China Sees $500 Million PVC Plant Investment from South Korea

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). LG Chem Limited (Seoul, South Korea) is currently reviewing plans to invest $500 million into a polyvinyl chloride (PVC) and vinyl chloride monomer (VCM) production plant in Fuzhou, China. The PVC and the VCM units will each produce an expected 450,000 metric tons per year. LG Chem has not yet selected an engineering and construction firm, but the immediate plan is to begin construction by the middle of next year.

Currently, LG Chem is the largest producer of synthetic resins in China, thanks to the explosion of computers, personal cell phones, mp3 players, and all the other new gadgets that are built with plastics. Manufactured goods in such industries as kitchenwares, automobiles, construction, and packaging and distribution need the resins increasingly, so the production of the raw material for those products must follow.

LG has invested billions of dollars in China hoping to take advantage of the growing population and the availability of personal technology that is scooped up at every city corner like rice in a bowl. The flowering middle-class in China is expected to continue its expansion, even creating separate sub-sets with the middle-class, thus inspiring a goods and services boom. As more people gain more money, they begin to determine their "status" by the goods they own (display). LG will increase their production of LCD screens, lithium-ion batteries, and polarizing film. They also have plans to become a major innovator and supplier of fuel cells, solar cells, and continued improvement of digital audio and video equipment.

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