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Lotte Chemical restarted PP plant in Malaysia

June 05/2014

MOSCOW (MRC) -- Lotte Chemical has restarted a polypropylene (PP) plant, reported Apic-online.

A Polymerupdate source in Malaysia informed that the plant restarted on May 29, 2014. It was shut on May 17, 2014 for maintenance turnaround.

Located at Pasir Gudang, Malaysia, the plant has a production capacity of 240,000 mt/year.

As MRC wrote previously, Lotte Chemical Titan shut down its PP plant in Malaysia on February 5, 2014 for a brief outage. The plant, located at Pasir Gudang, Malaysia, with a production capacity of 200,000 mt/year resumed operations on February 6, 2014. 

We remind that in early 2014, Hyundai Oilbank and Lotte Chemical Corp. established Hyundai Chemical as a new venture in the "oil refining and synthetic fiber materials business". The venture, owned 60 % by Hyundai and 40% by Lotte, will invest up to 1.2-trillion won, with production targeted to begin in the second half of 2016 at Hyundais Daesan plant in South Chungcheong province.

In early 2013, a major South Korean pertochemical and polymer producer, Honam Petrochemical, and one of the largest South Korean PET and PTA producer, KP Chemical, decided to merge into a new company with a new name Lotte Chemical Corporation. The newly formed company believes that this move will strengthen its position both in domestic and international markets and is in a line with Lotte Chemical's strategy to become a leading global company.

The Lotte Group currently has a presence in Indonesia via its subsidiary, Honam Petrochemicals, which acquired Malaysias polyolefin major Titan Chemicals in July 2010. Included in the acquisition was Titans Indonesian subsidiary - PT Titan Petrokimia Nusantara (TPN), which has a polyethylene (PE) production capacity of 450,000 tonnes/year.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, propylene, ethylene, Honam Petrochemical, KP Chemical, Lotte Chemical, Malaysia, South Korea.
Category:General News
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