LG Chem has decided to make an investment of 300 billion won ($278.6 million) to expand its petrochemical facilities in Yeosu, South Jeolla Province, the company said Tuesday.
By investing this major chunk the company has plans to increase the annual production capacities of crude acrylic acid and super absorbent polymer by 180,000 tons and 100,000 tons, respectively.
The expansion is likely to get completed by 2019, the chemical giant’s annual production capacity of CAA will increase to 700,000 tons and SAP to 500,000 tons. LG Chem expects its annual sales to grow by 300 billion won.
