Axiall, Lotte finalize Louisiana ethane cracker investment

Axiall, Lotte finalize Louisiana ethane cracker investment

9:28 AM, 18th December 2015
Axiall, Lotte finalize Louisiana ethane cracker investment

ATLANTA, US/SEOUL, SOUTH KOREA: Axiall Corporation said that it has reached a final investment decision with Lotte Chemical Corporation, to construct an ethane-based ethylene plant in Lake Charles, US.

Anticipated to start-up in the beginning of 2019, the plant is expected to produce approx1 million metric tonne of ethylene annually. It will provide partial backward integration for Axiall’s vinyls business and will supply a new monoethylene glycol (MEG) facility being built by Lotte, adjacent to the new ethylene plant.

The state-of-the-art steam cracking facility will be built by LACC LLC, the joint-venture company recently formed by Axiall and Lotte, adjacent to Axiall’s largest chlor-alkali chemical facility, located in Lake Charles, to take advantage of Axiall’s existing infrastructure, access to competitive feedstock resources, and ethylene distribution infrastructure.

CB&I has been chosen to execute the main steam cracker contract. LACC will also engage a number of other firms to execute ancillary offsite facilities developments and tie-ins to existing infrastructure. Work is scheduled to begin in the second quarter of 2016.

“This project is a major step forward in addressing our long-term strategy of improving our ethylene cost position in our chlor-alkali business,” said Tim Mann, president and CEO, Axiall.

“We are pleased to approve these projects and look forward to starting construction in 2016 with our partner Axiall to develop a world-scale ethane cracker fed by US shale gas,” said Soo Young Huh, president and CEO, Lotte Chemical. “This investment will build on Lotte Chemical’s global ethylene construction and operating capabilities and increase our manufacturing presence in the North American market.”

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Rosneft, Sinopec JV for gas and petroleum chemicals in Siberia

MOSCOW, RUSSIA: Rosneft said that it has signed a memorandum of understanding (MoU) with China Petrochemical Corporation (Sinopec group), to cooperate ...

Read more
Stora Enso starts new biomaterials innovation centre in Stockholm

HELSINKI, FINLAND: Stora Enso Oyj said that it has inaugurated a new innovation centre for biomaterials in Stockholm, Sweden. By creating renewable so ...

Read more
Gazprom signs five-year deal to supply sulphur to PhosAgro

MOSCOW, RUSSIA: Gazprom Sulphur Ltd said that it signed a five-year contract with PhosAgro for the supply of liquid sulphur, based on market prices, t ...

Read more
Albemarle sells flame retardants, specialty chemicals biz to Huber

BATON ROUGE, US: Albemarle Corporation said that it has agreed to sell its mineral flame retardants and specialty chemicals businesses to Huber Engine ...

Read more
India conducts world’s largest practical lesson, enters Guinness Book

NEW DELHI, INDIA: 2,000 students from schools across the national capital, New Delhi, who attempted to conduct ‘world’s largest practical ...

Read more
Platform names Sigma-Aldrich chief as CEO

WEST PALM BEACH, US: Platform Specialty Products Corporation said that it has appointed Rakesh Sachdev as its new CEO, effective 5 January, as current ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X