On the 19th, Lg Chem announced that it will invest a total of 2.6 trillion Korean won by 2028 to build a total of 10 plants, including biodegradable Pbat and PoE for solar film, at its Daesan Complex in Chungnam Province. Contact online >>
On the 19th, Lg Chem announced that it will invest a total of 2.6 trillion Korean won by 2028 to build a total of 10 plants, including biodegradable Pbat and PoE for solar film, at its Daesan Complex in Chungnam Province.
Pbat (Poly Butylene Adipate-co-Terephthalate): Product that breaks down rapidly in nature through oxygen, heat, light, and enzymatic reactions. It is used in agricultural and disposable films, etc.
POE (Poly Olefin Elastomer): High value-added synthetic resin with both rubber and plastic properties using Lg Chem’s unique metallocene catalyst. Used in solar films, automobile bumper material, shock-absorbent layer for shoes, electric wire and cable covering material, etc.
With the construction of Pbat and Poe plants this year Lg Chem plans to produce the Daesan Complex as a mecca for ESG-based businesses, from bio-based raw material production to eco-friendly materials, waste plastic recycling, and greenhouse gas reduction by 2028.
Beginning construction within this year, the Pbat plant will build with an annual capacity of 50,000 tons and the POE plant with an annual capacity of 100,000 tons.
At the signing ceremony, Chungnam Governor Seung-jo Yang said, “Lg Chem will grow larger and further develop here in Chungnam. We will actively carry out more business-friendly policies so that companies and regions can mutually develop together.”
Hak Cheol Shin, Chief Executive Officer of Lg Chem, stated that "This investment agreement is a part of the sustainable growth strategy and a signal to announce the full-fledged scale-up of the eco-friendly material business."
Furthermore, he added, "We will not only strengthen our long-standing partnership with Chungnam Province and Seosan City but also raise the level of cooperation one step further to grow together toward a sustainable future."
The final purpose of Lg chem is to stay recognized as the market leader, in business accomplishment as well as in management methods decent management and code of conduct to enable the ability development and fair competition.
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To cater to this ever growing market demand, we have partnered with world renowned ingredient manufacturers to ensure the delivery of the products customers look for at the right time with the right quality. In Sri Lanka we have a widespread client base comprising both public and private sector organizations and we have become the most preferred ingredient and technical solution provider for most of the Blue-Chip companies in SriLanka.
The unique business approach of Proactive Product Development and dedication to quality as certified by highest standards such as ISO 9001 – 2015 have won NEOChem an unparalleled place above the competition. Our ability to advise clients and principals alike about the market conditions is another strength which will drive us to offer a best of class experience for our clientele with our highly qualified, well experienced and totally dedicated team of professionals. NEOChem has been able to mark its position in the chemical industry in SriLanka over a short period as we always believe in innovations and come up with solutions for the unseen requirements in the market.
The only thing that is constant at NEOChem is change, to produce unlimited possibilities, we keep up to date with extensive systematic research which helps us find something new every time!
There is only one way to make new discoveries – that is to see in places not seen before. Creativity is given prime importance at NEOChem.
Every product concept is unique and so is the flavour or fragrance attached to it, giving it an individuality and identity it deserves!
There are unlimited possibilities when it comes to designing a fragrance or a flavour. NEOChem explores dimensions which have not been discovered before.
NEOChem International Pvt LTD, incorporated in 2009, is an ISO certified company with a unique vision "to be the most sought-after Technical Solutions Provider for manufacturing industries in Sri Lanka".
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