17 December 2015
VIEW AXIALL PRESENTATION AT CITIBANK BASIC MATERIALS
ABOUT LOTTE CHEMICAL CORPORATION
DETAILS
AXIALL and LOTTE CHEMICAL CORPORATION
of the
that the companies have reached a final investment decision
to construct an ethane-based ethylene plant
in
approximately one million metric tons of ethylene annually.
The plant 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
adjacent to Axiall’s largest chlor-alkali chemical facility,
located in
* Axiall’s existing infrastructure,
* access to competitive feedstock resources, and
* ethylene distribution infrastructure.
The facility’s anticipated start-up would be
the beginning of 2019.
CB&I has been chosen to execute the main steam cracker contract,
using its proprietary technology, following successful completion
of front-end engineering and design, and
other early-stage engineering works.
LACC will engage a number of other firms to execute
ancillary offsite facilities developments and tie-ins
to existing infrastructure.
Work began in the fourth quarter of 2015 to clear and prepare
the site ahead of construction, which is scheduled
to begin in the second quarter of 2016.
AXIALL president and chief executive officer
“Today’s announcement represents a significant investment
for the long-term benefit of both of our companies
and a significant milestone in our company’s history,”
“This project is a major step forward in
addressing our long-term strategy of improving
our ethylene cost position in our chlor-alkali business.”
Source: Axiall Corporation
Investors:
Martin Jarosick, +1-770-395-4524
or
Media:
Chip Swearngan, +1-678-507-0554
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