Lotte Chemical Titan Holding’s Indonesian subsidiary, PT Lotte Chemical Indonesia (LCI), has secured a 12-year loan facility worth $2.4bn to finance the development of its integrated petrochemical facility, also known as the Lotte Chemical Indonesia new ethylene project. The loan was arranged with the Export-Import Bank of Korea, Korea Trade Insurance Corp, and other commercial … Read more
OCI Global and Lotte Fine Chemical (LFC) have announced a collaboration to provide bio-ammonia for the chemical and power sectors, aiming to decarbonize their value chain. OCI will supply LFC with bio-ammonia from its Texas production capacity, starting this year. LFC will import OCI’s ISCC Plus bio-ammonia, derived from bio-methane, for domestic use in South … Read more
LOTTE INEOS Chemical has today announced plans to increase VAM production capacity from the current 450,000 tonnes to 700,000 tonnes with the addition of a third VAM plant. The new plant is scheduled to start-up by the end of 2025. VAM is widely used for everyday products such as food packaging, solar panels, windscreens, polarizing … Read more
South Korea’s Lotte Chemical Corp. is set to spend 602 billion won ($501.5 million) in building eco-friendly materials plants at one of its petrochemical complexes in the country. Lotte said on Monday it agreed with a local government to invest in a battery electrolyte organic sol-vents factory as well as carbon capture and utilization (CCU) … Read more
LOTTE Chemical will cooperate with Samsung Engineering and POSCO for the eco-friendly hydrogen business. LOTTE Chemical, Samsung Engineering, and POSCO announced on the 28th that they have entered an MOU for ‘a partnership for the development of hydrogen business in Korea and abroad.’ The top management gathered at Hotel Signiel in Jamsil, Seoul for the … Read more
Lotte Chemical Corp., a petrochemical unit of South Korean conglomerate Lotte Group, said Friday it will spend 250 billion won (US$211.4 million) to expand its domestic production line of ethylene oxide adduct (EOA). The expansion of the production line in Daesan, a county in the central South Chungcheong Province, will help boost its EOA production … Read more
Lotte Chemical Corp. announced that its board approved capital expenditure for its planned integrated petrochemical facility (IPF) in Cilegon, Indonesia. Lotte Chemical said in a disclosure that its board approved a recapitalization scheme of 1.4 trillion won ($1.2 billion) through purchase of rights offering from Indonesia, PT Lotte Chemical Indonesia, to fund a massive petrochemical … Read more
Air Liquide, TotalEnergies and Lotte, are combining forces with other large international companies to sponsor the creation of the world’s largest fund exclusively dedicated to clean hydrogen infrastructure solutions. The fund aims to reach 1.5 billion euros ($1.7 Billion) and has already secured initial commitments of 800 million euros ($928 million). Its objective is to … Read more
Lotte Chemical Co., a South Korean petrochemical major, said it will invest 4.4 trillion won ($3.8 billion) in the hydrogen business by 2030 to cut its carbon emissions and foster the new growth driver. Under its hydrogen growth roadmap, Green Promise 2030, Lotte Chemical said through the investment it aims to generate annual sales of … Read more
Honeywell International, Inc. announced that Lotte GS Chemical Corp. will use Honeywell UOP Q-Max, Phenol 3G, and Evonik MSHP technologies to produce more than 565,000 metric tons per year of phenol and acetone at its petrochemicals facility in Yeosu, Korea. UOP is providing a license for the technology, in addition to basic engineering design services, … Read more
Lotte Chemical has invested 161.7 billion won ($132 million) to acquire a 4.46% stake in Japanese chemical company Showa Denko, according to a Business Korea report. The move is seen as reflecting Lotte Group chairman Shin Dong-bin’s intention to take over Japanese chemical companies with strong technologies. Lotte Chemical bought Showa Denko shares in March … Read more
Lotte Chemical on March 4 suspended the operation of nine plants following an explosion at its Daesan Complex in Daesan-eup, Seosan County, South Chungcheong Province, Business Korea reported. The accident is expected to have an impact on the ethylene market. Lotte Chemical produces 4.5 million ton per year of ethylene annually at home and abroad. … Read more
Lotte Chemical of South Korea shut down its ethylene cracker in Daesan after an explosion that injured at least 31 people. It also announced an indefinite force majeure on supplies. The explosion occurred on March 4, about 3 am South Korea time from a fire at a compressor unit within the naphtha cracker. The fire … Read more
Lotte Chemical said on August 22 in a regulatory filing that its management had agreed to merge with Lotte Advanced Materials, a wholly-owned subsidiary. The board of directors of Lotte Chemical, based in Seoul, agreed on a scheduled merger between two Korean-Japanese Lotte subsidiaries. Lotte Advanced Materials will merge into Lotte Chemical once the merger … Read more
Lotte Chemical Corp said on Thursday that it expects that its U.S. ethane cracker will start commercial operations in Louisiana in May. The U.S. ethane cracker from Lotte Chemical is a joint venture with Axiall Corp, now merged with Westlake Corp. In the plant, Lotte owns 88 percent, while the rest is held by Westlake Corp. … Read more