May 10, 2017 / 4:09 AM / 3 months ago

S.Korea's Lotte Chemical to expand chemical output through 2019

SEOUL, May 10 (Reuters) - South Korea's Lotte Chemical Corp said on Wednesday that it will more than double its meta-xylene and polycarbonate production by 2019 as part of a 370 billion won ($326.39 million) investment plan.

Under the expansion plan, Lotte Chemical will raise its meta-xylene production at its Ulsan plant by 200,000 tonnes to 360,000 tonnes per year (tpy), and polycarbonate production at its Yeosu plant by 110,000 tonnes to 210,000 tpy by the second half of 2019.

Meta-xylene is typically used as feedstock for purified isophathalic acid (PIA) to produce plastic bottles, and polycarbonate is an engineering plastic.

In December, Lotte Chemical announced its plans to invest about $215 million to increase the ethylene production capacity at its Yeosu plant by 2018. ($1 = 1,133.6000 won) (Reporting By Jane Chung; Editing by Christian Schmollinger)

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