LG Chem Ltd plans to invest US$100 million to double output of acrylonitrile, butadiene and styrene (ABS) plastics at its joint venture plant in China by 2018, as per Reuters. Capacity will be doubled to 300,000 tpa at its plant in Guangdong, in joint venture with China National Offshore Oil Corporation (CNOOC).
Currently, CNOOC and LG Chem each hold a 50% stake in the plant. With the fresh investments, LG Chem will hold 70% stake.
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