(MENAFN) LG Chem Ltd., the biggest chemical company in South Korea by sales, said it will decide on an investment in its mainstay local production facility next week.
The company will hold a board of directors meeting early next week to decide on an investment to expand the current naphtha cracking center (NCC) in Yeosu, 455 kilometers southwest of Seoul, to meet growing demand.
The Yeosu NCC has a production capacity of 1.16 million tons of ethylene, the building block for a vast range of chemicals from plastics to antifreeze solutions and solvents, and the company has another NCC in Daesan, 150 km southwest of Seoul, with a capacity of 1.04 million tons of ethylene.
This year, LG Chem aims to achieve sales of 26.9 trillion won, while planning 3.8 trillion won in capital expenditures.
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