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Business

LG Plans Ethylene In Kazakhstan

by Michael McCoy
August 29, 2011 | APPEARED IN VOLUME 89, ISSUE 35

LG Chem plans to construct a petrochemical complex in western Kazakhstan by 2016 in a joint venture with state-owned Kazakhstan Petrochemical Industries. LG, the largest chemical company in South Korea, says the project will cost $4 billion and result in ethylene and polyethylene plants with annual capacity of 840,000 and 800,000 metric tons, respectively. At a signing ceremony, LG Chem CEO Peter Bahnsuk Kim said the facility, to be based on low-cost ethane, will help the company compete with the Middle East in the future.

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