MOSCOW (MRC) -- South Korea-based company Lotte Chemical is likely to take off-stream a cracker for maintenance turnaround, as per Apic-online.
A Polymerupdate source in South Korea informed that the unit is likely to be shut in April 2014. It is likely to remain off-stream for around four days.
Located in Yeosu, South Korea, the cracker has an ethylene capacity of 1 million mt/year and propylene capacity of 480,000 mt/year.
As MRC informed previously, Lotte Group's plan to build an integrated petrochemical plant is still hampered by land problems. Honam Petrochemical Corp., the core company of Lotte Group's chemical division, is planning to build a polyethylene and polypropylene plant worth USD5 billion in Cilegon, Banten. The plant's construction requires a land of 100 hectares and is expected to be completed in three to four years.
Besides, South Korean conglomerate Lotte Group is considering new petrochemical ventures in southeast Asia, including an investment in Indonesia that may top USD5bn (EUR3.6bn).
The Lotte Group currently has a presence in Indonesia via its subsidiary, Honam Petrochemicals, which acquired Malaysia’s polyolefin major Titan Chemicals in July 2010. Included in the acquisition was Titan’s Indonesian subsidiary - PT Titan Petrokimia Nusantara (TPN), which has a polyethylene (PE) production capacity of 450,000 tonnes/year.
MRC