LG Chem plans $2.2 billion green materials complex

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In South Korea, LG Chem is investing ₩2.6 trillion ($2.2 billion) to build an eco-friendly materials production complex, including manufacturing using biobased raw materials. 

The facility at Seosan will include 10 production plants, all set to come online by 2028. Products will include poly butylene adipate-co-terephthalate, a material that breaks down in nature via oxygen, heat, light and enzymatic reactions, as well as polyolefin elastomer, a synthetic resin used in solar films. The PBAT plant will have an annual capacity of 50,000 metric tons and will come online in 2024. Demand for PBAT is expected to grow 30% per year through 2025. 

The company did not provide details beyond its plans for PBAT and POE.