BP and Lotte have agreed a major expansion of production capacity at their joint venture (JV) Lotte BP Chemical Co. Ltd facility in Ulsan, South Korea.
The expansion is expected to add 100 000 tpy of acetic acid capacity by May 2019 through debottlenecking, and to double the current 200 000 tpy vinyl acetate monomer (VAM) capacity with the addition of a second VAM plant by the end of 2020. The new expansion will bring total production capacity of the site to over 1 million tpy.
The expected investment of US$175 million will be funded by the JV.