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Daesan MEG unit to be shut by Lotte Chemical in mid-October

September 17/2020

MOSCOW (MRC) -- Lotte Chemical is likely to undertake a planned shutdown at its monoethylene glycol (MEG) unit, according to Apic-online.

A Polymerupdate source in South Korea informed that the company has planned to take its unit off-stream for maintenance in mid-October, 2020. The unit is expected to remain off-line for about two weeks.

Located at Daesan in South Korea, the unit has a production capacity of 400,000 mt/year.

As MRC informed earlier, Lotte Chemical's second-quarter net profit fell 88.7 percent from a year earlier due to low demand amid the coronavirus pandemic. For the April-June period, Lotte Chemical posted a net profit of 30.6 billion won (USD25.8 million), compared with a profit of 271.2 billion won a year earlier, the company said in a regulatory filing.

MEG is one of the main feedstocks for the production of polyethylene terephthalate (PET).

According to MRC's ScanPlast report, Russia's estimated PET consumption totalled 367,720 tonnes in the first six months of 2020, up by 19% year on year. Russian companies processed 62,910 tonnes in June.


mrcplast.com
Author:Margaret Volkova
Tags:monoethylene glycol (MEG), PET-granulate, packaging, Honam Petrochemical, Lotte Chemical, Russia, South Korea.
Category:General News
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