South Korea's Lotte Daesan Petrochemical Corp. plans to invest 670 billion won (US$646 million) by mid-2008 to expand its production capacity for key petrochemicals. Lotte Daesan, a wholly-owned unit of Honam Petrochemical Corp., will either expand or add new production lines at its domestic plant for ethylene, propylene, styrene monomer and polypropylene, among others.
South Korean petrochem majors have planned projects to expand capacity on estimates of robust demand of petrochemicals from China, which the country will not be able to meet with domestic production. This will lead to a rise in imports that will boost profits beyond 2010, despite growing Chinese capacity and the construction of large-scale plants in the Middle East. The board of Samsung Total Petrochemicals Co. Ltd., an equal joint venture between Samsung General Chemicals of South Korea and French oil major Total SA , recently approved a $525 million investment project to boost capacity
18-Nov-05 
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