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Biz News Korea(Eng)
Lotte Chemical ramps up ethylene output in Malaysia
- Collected
- 2017.12.19
- Distributed
- 2017.12.20
- Source
- Go Direct
The Korean company said on Monday its Malaysia-based subsidiary Lotte Chemical Titan took three years to complete the 300 billion won ($275.8 million) expansion project. The plant has started commercial operation with annual capacity bumped up from 720,000 tons to 810,000 tons.
The new plant is the world’s first hybrid facility that merges the existing naphtha thermal cracking process with catalytic cracking, according to Lotte Chemical.
Ethylene is a raw material used to make plastics, chemical fibers and other petrochemical products.
“The plant reuses raw materials to cut down on costs and is capable of running on a variety of fuel,” said a Lotte Chemical official. “Production of propylene and benzene would more than double.”
Lotte Chemical Titan was acquired by Lotte Chemical in 2010 and operates plants in Malaysia and Indonesia.
Next year, Lotte Chemical plans to finalize its ethane cracking joint venture deal in the United States and the expansion of its ethylene plant in Yeosu, Korea. When all additional facilities are completed by late 2018, it is expected to have a broad production base with an annual capacity of 4.5 million tons.
As of 10:13 a.m., shares of Lotte Chemical were down 1.37 percent at 360,500 won.
By Kang Doo-soon and Kim Hyo-jin
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]