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Sinochem News Network News on August 19th, LG Chem (LG Chem) said that by 2028, it will invest 2.
6 trillion won (approximately RMB 14.
4 billion, or US$2.
2 billion) in South Korea to increase the production capacity of environmentally friendly materials
.
LG Chem will build 10 new chemical plants at its Dashan base in Chungcheongnam-do, South Korea, with products including polyadipate/butylene terephthalate (PBAT) and polyolefin elastomer (POE)
.
According to the plan, LG Chem will start construction of a 50,000-ton/year PBAT plant and a 100,000-ton/year POE plant within this year.
The two plants are scheduled to start operations in 2024, and the resulting annual sales are expected to exceed 470 billion won.
.
LG Chem will start with the construction of PBAT and POE factories, and plan to cultivate the Dashan base as a core base for ESG projects such as bio-based raw material production, environmental protection materials, waste plastic recycling, and greenhouse gas emission reduction by 2028
.
At present, the annual POE production capacity of LG Chemical's Dashan plant is 280,000 tons.
After this expansion is completed, the production capacity will be expanded to 380,000 tons, and the POE production capacity will rank second in the world
.
It is reported that PBAT is a biodegradable resin that quickly decomposes in nature, which is of great help in solving environmental problems such as waste plastics
.
POE has high insulation, excellent moisture resistance and power generation efficiency.
