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Lotte Chemical to shut down cracker for maintenance in March 2015

December 12/2014

MOSCOW (MRC) -- Lotte Chemical is likely to shut a cracker for maintenance turnaround in 2015, reported Apic-online.

A Polymerupdate source in South Korea informed that the cracker is planned to be shut in October 2015. It is likely to remain off-stream for around one month.

Located in Daesan, South Korea, the cracker has an ethylene capacity of 1 million mt/year, propylene capacity of 500,000 mt/year and butadiene capacity of 150,000 mt/year.

As MRC reported earlier, 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.
Author:Margaret Volkova
Tags:PE, PET, oil, terephthalic acid, ethylene, Honam Petrochemical, KP Chemical, Lotte Chemical, South Korea.
Category:General News
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