Lotte Chem Titan Gets Shareholders’Nod For Divestment of 49% Interest in LCI

摘要

Cileson-Lotte Chemical Titan has received shareholders’approval for the planned sale of its 49% equity interest in Lotte Chemical Indonesia(LCI)to its major shareholder,Lotte Chemical Corp.(PCN,26 Aug 2019,p 2).Both Lotte Chemical Titan and Lotte Chemical Corp.will jointly fund the LCI New Ethylene(LINE)Project being built in Cilegon,Indonesia.The project,estimated to cost about $4.4-billion,includes a new 1-million-t/y ethylene cracker and other related downstream petrochemical facilities.An expected start-up date was not given.