Lotte Chemical to invest W250b to boost advanced concrete material production

Lotte Chemical Corp., a petrochemical unit of South Korean conglomerate Lotte Group, said Friday it will spend 250 billion won ($211.4 million) to expand its domestic production line of ethylene oxide adduct (EOA), an advanced material used in concrete.

The expansion of the production line in Daesan, a county in the central South Chungcheong Province, will help boost its EOA production capacity by an annual 150,000 tons to 480,000 tons globally, the company said in a release.

It will also increase the production of high-purity ethylene oxide (HPEO), a main source of EOA, to 250,000 tons, the company said.

EOA is an ethylene-based ingredient used in a chemical agent that reduces water in concrete used for the construction of large structures, such as skyscrapers, piers and dams. The agent reduces the water usage by 30 percent, which enhances the durability of the concrete.

Lotte Chemical invested 120 billion won in January to expand the EOA production by 100,000 tons at its Yeosu factory on the country's southern coast.

Currently, the Daesan factory has production capacity of 50,000 tons, with the Yeosu factory touting 230,000 tons and a China-based factory having 50,000 tons. (Yonhap)