April 26, 2024

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[THE INVESTOR] Lotte Chemical has expanded its polyethylene plant in Malaysia to boost sales in Southeast Asian markets, the company said on Dec. 18.

Lotte Chemical has invested 300 billion won (US$276 million) in expanding the polyethylene production facility in Malaysia since 2015 and completed the expansion project in August, the company said in a statement.

The Lotte Chemical Titan Holding Berhad plant now has a production capacity of 810,000 tons of polyethylene, up 13 percent from the previous capacity of 720,000 tons, it said.

Lotte Chemical owns a 74.87-percent stake in the plant which mainly produces polyethylene, the most common of plastic products. Lotte Property & Development holds a 31.27-percent stake in Lotte Chemical. The companies are affiliates of Lotte Group, a retail-to-construction conglomerate.    

  By Alex Lee and newswires (alexlee@heraldcorp.com)