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LG Chem opens new petchemical technology center in South Korea

November 08/2019

MOSCOW (MRC) -- LG Chem announced on Thursday it has opened a technical service and development center in Osan, Gyeonggi Province, marking the countrys largest petrochemical technology center, reported Kemicalinfo.

The company invested 110 billion won (USD94.8 million) in establishing the center, it said. The petrochemical tech center is part of LG Chems plan to boost its competitiveness in the sector.
 
The center will be used for developing technical solutions and offering other forms of support for the companys contractors and clients.

The Pilot building of the center is equipped with production facilities, where both companies and clients can work together on the development of pilot petrochemical products, such as polyolefin, acrylonitrile butadiene styrene copolymer, super absorption polymer and solution styrene butadiene rubber.

The tech center will have more than 60 laboratories to test petrochemical products and 200 researchers, according to the company."Osan Tech Center has the geographical advantage that will provide easier access to clients flying in from other countries," said Sohn Ok-dong, president of the petrochemical business of LG Chem. "Together with the center in Huanan, China, the Osan center will serve as the hub for technical services for global petrochemical clients."

As MRC informed before, LG Chem is planning to spend USD2.4-billion to expand its naphtha cracking center (NCC) and polyolefin (PO) plant in Yeosu, South Korea. The project, which will expand the NCC and PO facility by 800,000 t/y each, is expected to be completed in the second half of 2021.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polyprolypele (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,589,580 tonnes in the first nine months of 2019, up by 7% year on year.  Shipments of all PE grades increased. The estimated PP consumption in the Russian market was 976,790 tonnes in January-September 2019, up by 4% year on year. Shipments of PP block copolymer and homopolymer PP increased.

LG Chem Ltd., often referred to as LG Chemical, is the largest Korean chemical company and is headquartered in Seoul, South Korea. According to ICIS report, it is 15th biggest chemical company in the world in 2011. It has eight domestic factories and global network of 29 business locations in 15 countries. LG Chem is a manufacturer, supplier, and exporter of petrochemical goods, IT&E Materials and Energy Solutions.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, PP block copolymer, homopolymer PP, propylene, ethylene, LG Chem, Russia, South Korea.
Category:General News
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