The expansion project will increase ethylene production capacity at Daesan’s existing 1.04 million-tonnes/year naphtha cracker by 230,000 tpy to 1.27 million tpy, LG Chem said.
Due to be completed in 2019, the ethylene expansion comes as part of LG Chem’s strategy to conform with the government of South Korea’s call for a restructuring of its domestic petrochemicals industry to ensure its ongoing competitiveness as well as its ability to meet rising demand.
LG Chem said it will invest 287 billion won—about $250 million—to complete the project.
Once fully commissioned, the Daesan expansion will raise LG Chem’s total ethylene output to 2.43 million tpy, which includes production from the company’s 1.16 million-tpy Yeosu plant in the province of South Jeolla.
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