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Lotte Chemical, Axiall break ground on JV ethane cracker in Lake Charles
HOUSTON, June 14, 2016 (PCW) -– Lotte Chemical and Axiall on Tuesday broke ground on their joint-venture ethane cracker in Lake Charles.
The $1.9 billion cracker will have a capacity of 1 million mt/yr (2.2 billion lb/yr) and its output will be shared by the two companies. The cracker is expected to be fully operational in 2019.
Axiall will use its portion of the ethylene output to make vinyl chloride monomer, while Lotte Chemical will make monoethylene glycol at a anew $1.1 billion MEG plant to be located next to the cracker. This MEG plant is said to be the largest in the US with a capacity of 700,000 mt/yr (1.54 billion lb/yr). Lotte plans to export the bulk of MEG produced at the new plant.
Axiall last week was bought by Westlake Chemical for $3.8 billion. -- Samantha Hartke