Lotte Chemical to become 7th largest global ethylene producer
As part of its plan to expand, the company will reportedly add an additional facility with a capacity of 200,000 tons/year, worth $254 million, to its plant in Yeosu. With this addition, the plant’s production capacity is expected to increase to 1.2 million tons/year, and to 2.3 million tons/year with the company’s other plant in Seosan. The construction of the additional facility in Yeosu is expected to start in the second half of 2017 and be completed in late 2018.
The reports revealed that the company is also planning to expand its ethylene production capacity in Malaysia by 13% by the end of 2017 while another capacity increase is being planned at its plant in Louisiana, the USA, to 1 million tons/year.
Lotte Chemical is currently the 13th biggest ethylene producer in the world. The company is expecting to be the 7th biggest global ethylene producer after the additional capacities become operational at the end of next year.
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