LG Chem plans to shut down its no. 2 ethylene plant soon, source says
The logo of LG Chem is seen at its office building in Seoul, South Korea, October 16, 2020. REUTERS/Kim Hong-Ji
SEOUL, March 23 : South Korea's LG Chem plans to shut down its no. 2 ethylene plant soon, a person familiar with the matter told Reuters on Monday, due to soaring prices of naphtha amid the Iran war.
The plant is located in the Yeosu industrial complex and has an annual capacity of 800,000 metric tons per year.
LG declined to comment. The person familiar with the matter declined to be identified as the information was not public.
The plan was reported earlier by Herald Business newspaper.
Source: Reuters
