AUGAF
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • CommoditiesNew
  • Contact
No Result
View All Result
PSX
Currencies
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • CommoditiesNew
  • Contact
No Result
View All Result
AUGAF
No Result
View All Result
Home Business

Lotte Chemical to Sell Pakistan Unit Stake for 192.4 Billion Won to Lucky Group

admin-augaf by admin-augaf
January 16, 2023
in Business, Finance
Reading Time: 1 min read
0
Lotte Chemical Pakistan Limited plans news investment in Pakistan

Lotte Chemical Pakistan Limited plans news investment in Pakistan

Share on FacebookShare on TwitterWhatsapp

Seoul January 16 2023: Lotte Chemical Corp. said Monday it is selling its subsidiary in Pakistan to a local chemical company for 192.4 billion won (US$156 million) as part of efforts to streamline its business with a focus on advanced materials and eco-friendly products.

Lucky Core Industries, a Pakistani chemical company, will take over the entire 75.01 percent stake in Lotte Chemical Pakistan Ltd., a unit that mainly engages in the production of purified terephthalic acid (PTA), the Seoul-based company said.

PTA is widely used to make PET bottles and other polymer products, such as fibers, resins and thin films.


Lotte Chemical said it will use the funds from the sale to bolster its advanced materials segment and make further inroads into sustainable chemical products, while upgrading the existing petrochemical products used as feedstock for plastics.

The sale of the Pakistani unit means that Lotte Chemical will no longer engage in the PTA production. It shut down the domestic PTA production line in Ulsan, 307 kilometers southeast, in 2020.

Lotte Chemical, the chemical unit of South Korean retail giant Lotte Group, aims to achieve 50 trillion won in sales in 2030, with about 30 trillion won to be generated from high value-added specialty products and eco-friendly materials.



Related Posts

Lucky Core Seeks Time Extension for Lotte Chemical Pakistan Offer


Tags: Lotte Chem
admin-augaf

admin-augaf

Related Posts

UAE President’s visit to Capital postponed
Business

UAE President’s visit to Capital postponed

January 30, 2023
Pakistan Rupee Fall for the Third Straight Day As Dollar Reserves Hit Low of Three Years
Business

Pakistan Rupee Continue to Depreciate in Interbank Reaches 270

January 30, 2023
Toyota, Suzuki to partially shut Pakistan output over forex, shortage issues
Business

Toyota Defends Title as World’s Top-selling Automaker in 2022

January 30, 2023

Recent News

Pakistan Hit by Suicide Bomb Blast, Death Toll Reaches 28

Pakistan Hit by Suicide Bomb Blast, Death Toll Reaches 28

January 30, 2023
UAE President’s visit to Capital postponed

UAE President’s visit to Capital postponed

January 30, 2023
Pakistan Rupee Fall for the Third Straight Day As Dollar Reserves Hit Low of Three Years

Pakistan Rupee Continue to Depreciate in Interbank Reaches 270

January 30, 2023
Toyota, Suzuki to partially shut Pakistan output over forex, shortage issues

Toyota Defends Title as World’s Top-selling Automaker in 2022

January 30, 2023
Adani Group’s Market Loss Swells to $65 Billion in Short-seller Attack Aftermath

Adani Group’s Market Loss Swells to $65 Billion in Short-seller Attack Aftermath

January 30, 2023

Popular News

  • Central Directorate of National Savings

    President Prohibit National Savings For Changing Rates on Existing Certificates Retrospectively

    0 shares
    Share 0 Tweet 0
  • Pakistan Rupee Appreciate against Dollar in Interbank as IMF Confirmed Board Review Date

    0 shares
    Share 0 Tweet 0
  • Pakistan Rupee Fall After 13 Days of Successive Gains against Dollar on Lower Remittances and Strengthening of US Dollar

    0 shares
    Share 0 Tweet 0
  • Pakistan Central Bank Issued Show Cause Notice to Eight Banks Over Currency Speculation

    0 shares
    Share 0 Tweet 0
  • Pakistan Rupee Fall for the Straight Second Day Against Dollar on Opening of LCs

    0 shares
    Share 0 Tweet 0

Categories

  • Budget
  • Business
  • Culture
  • Finance
  • International
  • National
  • News
  • Politics
  • PTI
  • Sports
  • Technology
AUGAF Logo

Follow us on social media:

Recent News

  • Pakistan Hit by Suicide Bomb Blast, Death Toll Reaches 28
  • UAE President’s visit to Capital postponed
  • Pakistan Rupee Continue to Depreciate in Interbank Reaches 270

Category

  • Budget
  • Business
  • Culture
  • Finance
  • International
  • National
  • News
  • Politics
  • PTI
  • Sports
  • Technology

Recent News

Pakistan Hit by Suicide Bomb Blast, Death Toll Reaches 28

Pakistan Hit by Suicide Bomb Blast, Death Toll Reaches 28

January 30, 2023
UAE President’s visit to Capital postponed

UAE President’s visit to Capital postponed

January 30, 2023
  • Home
  • Politics
  • News
  • Business
  • National
  • Finance
  • Technology
  • International

© 2021 AUGAF.

No Result
View All Result
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • Commodities
  • Contact

© 2021 AUGAF.