31 July 2012 09:18 [Source: ICIS news]
The plant, with a nameplate capacity of 300,000 tonnes/year of phenol and 180,000 tonnes/year of acetone, is still under construction, the source said, adding that the construction of the plant will be completed in September.
No details were given on the start and the cost of the construction.
LG Chem is targeting commercial production at the new facility on 1 November, the source said.
The upcoming new capacity is expected to exert downward pressure on phenol and acetone prices, given weak demand amid a slowing Chinese economy, market sources said.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections