LG Chem to expand polyolefine products

30 Aug '16

1 min read

Korea based LG Chem will expand polyolefine products with its exclusive technology, leading to better quality of polyester and polypropylene. This expansion is part of the company's plan to boost its competitiveness and increase the sales of high value petrochemicals from the current 3 trillion won ($2.7 billion) to 7 trillion won by 2020.

LG Chem is also considering expanding ethylene production, according to Korean media reports. Currently, the company has capacity to produce 2.2 million tons of ethylene in Korea.

The company will also invest 400 billion won to increase production of ealstomer, a type of high value synthetic resin. LG Chem is one of the four companies in the world that produce elastomer.

It will also gradually double the production of acrylonitrile-butadiene-styrene (ABS). At present, the company is the world's largest producer of ABS, with capacity to produce 300,000 tons at its factory in China.

However, the company will continue with its original business of naphtha cracking centre, which produces basic sources of petrochemicals. (RKS)

Fibre2Fashion News Desk – India

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