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LG Chem to build more naphtha cracking centres
18
Oct '16
South Korea based LG Chem Ltd will build more naphtha cracking centres (NCCs) and also expand ethylene production capacity as a part of restructuring its business portfolio in the coming years. The company will make huge investments in increasing the capacity of profitable products while reducing production of items that are in oversupply.

By 2019, the company is planning to spend 287 billion won (about $253 million) at the Daesan Complex in South Chungcheong Province, a leading Korean daily reported. After the proposed expansion, the annual capacity of the complex will rise to 1.27 million tons. This will be the largest capacity among single NCC plants globally.

The decision to invest in NCC will help the company secure raw materials needed for value-added products, while also maintaining its lead in the market. The investment will also increase LG Chem's naphtha cracking business to 7 trillion won and also widen ethylene production capacity to 230,000 tons per annum.

A portion of investment will also be utilised to lower energy consumption at the Daesan Complex. (RKS)

Fibre2Fashion News Desk – India

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