MOSCOW (MRC) -- Lotte Chemical Titan, a subsidiary of the South Korean Lotte Group, is in plans to restart its high density polyethylene (HDPE) plant following maintenance turnaround, as per Apic-online.
A Polymerupdate source in Malaysia informed that the plant is likely to be restarted this weekend. It is under a maintenance turnaround since June 8, 2015.
Located in Pasir Gudang,Malaysia, the plant has a production capacity of 100,000 mt/year.
As MRC informed previously, Lotte Chemical Titan is studying the possibility of building a USD4 billion upstream plant to reduce imports of raw materials. Around 40 percent of the total investment needed for the new plant would be taken from the company’s internal cash, while the rest would be from bank loans. Lotte Chemical, which currently has a production capacity of 450,000 tons of polyethylene per year, expects the upstream plant to boost production capacity to 1 million tons by creating ethylene.
The Lotte Group currently has a presence in Indonesia via its subsidiary, Honam Petrochemicals, which acquired Malaysia’s polyolefin major Titan Chemicals in July 2010. Included in the acquisition was Titan’s Indonesian subsidiary - PT Titan Petrokimia Nusantara (TPN), which has a polyethylene (PE) production capacity of 450,000 tonnes/year.
MRC