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.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- PET bottle fails to salve pandemic wounds; challenges mount as autumn begins
- Can LDPE uptrend hold in Asia?
- Europe PVC prices lag behind global markets, upward pressure mounts
- PS, ABS markets take respite from rising streak in China, SEA
- Muted demand in Europe paves way for plenty of PP, PE offers in Turkey
- Import PE uptrend persists in China despite bearish winds mounting in local market
- 3-digit hikes in Oct PVC offers reinforce supply-driven bullishness in Asia
- Crude oil caught between demand woes and production disruption
- Tightness drives European PVC market up, prices near pre-pandemic levels
- Major LDPE markets touch multi-year highs on growing tightness