S. KOREA'S LG CHEM TO SET UP JV ABS PLANT IN CHINA

21 Jul 2009 • by Natalie Aster

The joint venture, to be named CNOOC & LG Petrochemicals Co., will build the plant with an annual capacity of 300,000 tons of ABS, a raw material used primarily in auto parts and electronics.

Construction of the plant, to be built in China's Guangdong Province, is scheduled for completion in 2013, the company said.

The plant will cost US$370 million to complete, with LG Chem investing $61 million and the remainder to be financed through the joint venture, the South Korean company said.

LG Chem and CNOOC will each have a 50 per cent stake in the joint venture.

For full details on CNOOC ADS (CEO) click here. CNOOC ADS (CEO) has Short Term PowerRatings of 4. Details on CNOOC ADS (CEO) Short Term PowerRatings is available at This Link.

Source:tradingmarkets.com

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