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Lotte & GS Energy to form Korean JV for producing BPA and C4 products

August 01/2019

MOSCOW (MRC) -- Lotte Chemical and GS Energy have signed a contract to establish a joint venture in the second half of this year for the production of bisphenol A (BPA) and C4 oil products at Lotte's site in Seoul, South Korea, according to Apic-online.

The new joint venture, tentatively named Lotte GS Chemical Co., will invest around USD678-million by 2023 to build a plant with a production capacity of 200,000 t/y of BPA products and 210,000 t/y of C4 oil products.

GS Energy, through its GS Caltex subsidiary, plans to supply the facility with propylene, benzene and C4 oil raw materials.

Lotte GS Chemical will be owned 51% by Lotte and 49% by GS Energy.

As MRC informed before, Lotte Chemical Corp's US ethane cracker in Louisiana commenced commercial operations within May, 2019. With the commencement of the plant, the South Korean company hopes to boost its cost competitiveness by diversifying away from mainly naphtha as a feedstock to make ethylene, a key ingredient for petrochemical products, it said in a statement.
Author:Margaret Volkova
Tags:bisphenol a, PC, crude and gaz condensate, propylene, ethylene, sheet extrusion, petrochemistry, Honam Petrochemical, Lotte Chemical, Russia, South Korea.
Category:General News
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