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S Korea’s Lotte to acquire Singapore’s Jurong Aromatics

by ChemOrbis Editorial Team -
  • 19/01/2017 (17:56)
According to media reports, South Korea’s Lotte Chemical is planning to acquire Singapore’s petrochemical company, Jurong Aromatics Corp (JAC) as part of its plan to boost growth in the sector.

The reports indicated that JAC went into receivership in September 2015 due to its debts. In addition, it had to stop production in a petrochemical complex in Singapore, which had cost the company $2.4 billion to build from 2011 to 2014, for one and half years due to a technical problem.

The company’s aromatics section has a production capacity of 800,000 tons/year of PX, 450,000 tons/year of benzene and 200,000 tons/year of orthoxylene. It can also produce 2.5 million tons/year of petroleum products including jet fuel and naphtha.
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