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LG Chem to spend 2.6 trillion won to build PBAT and other factories, to start construction this year

 Last Update: 2022-08-29
 Source: Internet
 Author: User

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bio 10

10 mil plastic

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On August 19, 2021, LG Chem announced that by 2028, it will invest 2.
6 trillion won (about 14.
365 billion yuan) to build a total of 10 factories including biodegradable PBAT and solar thin film POE at the Daesan factory in South Chungcheong Province

The PBAT plant and POE plant, which will start construction this year, are expected to have an annual production capacity of 50,000 tons and 100,000 tons respectively.
Both plants are scheduled to be put into commercial production in 2024

LG Chem will start with the construction of PBAT and POE factories this year, and plans to cultivate the Dashan factory as a core base for ESG projects such as bio-based raw material production, environmental protection materials, waste plastic recycling and greenhouse gas reduction by 2028

■ By 2028, a total of 10 factories including biodegradable PBAT and solar thin film POE will be built

- A core base for ESG projects such as bio-based raw material production, environmental protection materials, waste plastic recycling and greenhouse gas reduction

■ Signed new projects and land use related investment agreements with Chungcheongnam-do and Seosan City

- An additional land of approximately 790,000 square meters (240,000 ping) was acquired in the Dashan Tertiary Industrial Park

- Will help directly or indirectly create jobs and revitalize the local economy

■ CEO Xin Xuezhe, Vice Chairman:

"This investment agreement heralds a full-scale development of the environmentally friendly materials business as part of a sustainable development strategy

"On the basis of strengthening the long-term cooperative relationship with Chungcheongnam-do and Seosan City, we will further enhance the level of cooperation and jointly move towards a sustainable future

LG Chem will make a large-scale investment in Korea for the cultivation of environmentally friendly materials in the petrochemical field
.
A comprehensive transformation of the business structure will be realized centered on high value-added sustainable development projects and environmentally friendly materials
.

According to industry analysis, under the spread of ESG trends, with the increasing demand for degradable plastics and the expansion and popularization of new and renewable energy, PBAT and POE are expected to grow rapidly at an average annual rate of 30% by 2025
.

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