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Samsung gets early works contract for Lotte MEG plant in Lake Charles

November 20/2015

MOSCOW (MRC) -- Samsung Engineering has been awarded an early works contract from Lotte Chemical for a 700,000-t/y monoethylene glycol (MEG) project at Lake Charles, La., according to GV with reference to Korean news reports.

Under the contract, Samsung will provide detailed engineering, procurement and construction plans for the plant. Samsung's consortium partner, CB&I, will perform pre-construction consultation. Financial details and a schedule for the project were not given.

Lotte is building the MEG facility adjacent to its proposed joint venture ethane cracker with Axiall Corp. Once operational, the cracker would produce about 1-million t/y of ethylene.

LACC LLC, a joint venture of Lotte and Axiall, recently awarded CB&I an early works contract for the planned ethane cracker.

At the time, the joint venture said a final investment decision is expected this year, subject to approval by both companies' board of directors. If approved, ethylene production would begin at the end of 2018. Axiall will not hold an interest in the MEG unit.

As MRC wrote before, South Korean conglomerate Lotte Group will acquire Samsung Group's chemical businesses for more than 3 trillion won (USD2.63 billion). The newspaper said Lotte Group affiliate Lotte Chemical Corp will acquire various assets, including a 31% stake in Samsung Fine Chemicals and 90% of Samsung SDI Co Ltd's chemicals business. Samsung SDI said it is in talks with Lotte Chemical for a potential sale of its chemical business without disclosing further details. 

Lotte Chemical Corporation manufactures a wide range of petrochemical products such as high density polyethylene, polypropylene, and ethylene glycol. The company's products are used in manufacturing general housewares, pipes, films, fabrics, bottles, containers, and automotive parts.
Author:Margaret Volkova
Tags:PP, PE, PET, monoethylene glycol (MEG), HDPE, ethylene, Axiall Corporation, Honam Petrochemical, KP Chemical, Lotte Chemical, USA.
Category:General News
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