LG Petrochemical Plans to Add Phenol and Bisphenol-A Units in Korea

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). LG Petrochemical Company Limited (Seoul, Korea), a division of LG (Seoul, Korea), will invest approximately $165 million to construct a new phenol unit and a new bisphenol-A unit at their existing site in Yosu, Korea. The phenol unit will have a production capacity of 150,000 metric tons per year.

Halliburton KBR (Houston, Texas), the engineering and construction division of the Halliburton Company (NYSE: HAL), will provide process technology and engineering services. The bisphenol-A unit will produce 120,000 metric tons per year utilizing the process technology of Resolution Performance Products (Houston, Texas). Construction is scheduled to begin during the latter half of 2003 with a tentative completion date in the first half of 2005. LG Dow Polycarbonate Limited (Seoul, Korea), a joint venture between LG and Dow, will utilize a majority of the bisphenol-A capacity and the rest will be sold on the world market.

LG Petrochemical was established in February of 1995 and is one of approximately fifty companies that comprise LG, the third largest company in Korea. LG dates back to 1947 and is now an $81 billion business working in the chemical and energy sector, electronics and telecommunications, finance and service. The Yosu facility was completed in 1981 and produces a variety of chemicals including ethylene, propylene, butadiene, and high-density polyethylene.