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South Korea's LG Chem to expand capacity by 2022South Korea's LG Chem to expand capacity by 2022 |
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Market sources reported that LG Chem is planning to invest around 2.8 trillion won ($2.4 billion) to expand its ethylene and polyolefin production capacity by 2021.
Based in Yeosu, South Korea, the expansion will boost the ethylene capacity by 800,000 tons/year, reaching total capacity of 3.3 million tons/year during the completion of the project by 2022. Besides, the expansions also include 800,000 tons/year of high value metallocene polyolefin.
The company currently operates a 1.16 million tons/year of ethylene plant in Yeosu and another 1.04 million tons/year of ethylene plant in the southwestern city of Daesan.