LG International Corp. said Sunday that a coal-based urea plant in China it invested in has started commercial operations, paving the way for the South Korean trading firm to expand its presence in the coal chemical business.
The plant in the industrial zone of Nalinriver, Wushen, Inner Mongolia, can produce 940,000 tons of urea annually.
LG International acquired a 29-percent stake in Boyuan Group’s affiliate Bodashidi Chemical, the operator of the plant, for $92 million in 2013.
LG International said it will export urea produced at the plant.
In 2008, LG International acquired a 30 percent stake in the Wantugou mine in Inner Mongolia, which has an estimated reserve of 180 million tons of bituminous coal. (Yonhap)
