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[Alpha Biz=(Chicago) Reporter Kim Jisun] Lotte Chemical has decided to extend its investment period in marine polymerization facilities for recycling PET in consideration of the global economic recession and sluggish petrochemical industry.
Lotte Chemical announced on the 6th that it will change the end of investment in the PET depolymerization (BHET) facility, which is under construction in its Ulsan plant, from June 30, next year to December 31, 2027.
Lotte Chemical previously announced in 2021 that it will invest 100 billion won to establish the country's first marine polymer facility that can treat waste PET at its Ulsan plant with a capacity of 45,000 tons and build a 110,000-ton C-rPET production facility that will turn recycled materials produced back into PET.
Lotte Chemical explained, "C-rPET production facilities were completed last year, but we decided to extend the period of investment in depolymerization facilities based on management judgment considering increased internal and external economic uncertainties."
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
