SEOUL, KOREA - Lotte Chemical president Huh Soo-young said on July 24, "We will earn more than 1 trillion won in annual sales revenue from the Uzbek gas-chemical plant complex to be operational by the end of next year." He said this at the Alpensia Resort in Pyeongchang, Gangwon Province, where the 2014 summer forum for the Federation of Korean Industries is being held.
"By the fourth quarter in 2015, the Surgil chemicals project in Uzbekistan will see its completion. After 2016, the plants will bring in more than 1 trillion won in sales revenue," he added. The company is currently building a large-scale chemical complex jointly with an Uzbek state-run gas company at the cost of US$4 billion. Based on the gas produced locally, the partners will produce 390,000 tons of high-density polyethylene and 80,000 tons of polypropylene a year.
