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