LG Chem mulls investment of US$1.3 bln in Polypropylene facility in Kazakhstan

Leading South Korean chemical manufacturer LG Chem is seeking to invest up to US$1.3 bln in a Kazakhstan facility to produce 551,000 tpa polypropylene. Kazakh energy officials are scouting for another partner in the venture located in the Western Caspian Sea province of Atyrau, as per europeanplasticsnews.com. International Petroleum Investment Company (IPIC) tops the list of potential investors. Total investment is estimated at US$4 bln, of which South Korean banks will provide US$2.7 bln and the balance US$1.3 bln will be invested by the participants. Output will be ramped up to 882,000 tons per year with launch of the facility’s second phase.
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