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LOTTE INEOS Chemical announces plans to develop third vinyl acetate monomer plant in Ulsan, South Korea, scheduled to start by end of 2025; site would bring total capacity to 700,000 tonnes compared to current 450,000 tonnes

February 6, 2023 (press release) –


LOTTE INEOS Chemical has today announced plans to increase VAM production capacity from the current 450,000 tonnes to 700,000 tonnes with the addition of a third VAM plant. The new plant is scheduled to start-up by the end of 2025.
 
VAM is widely used for everyday products such as food packaging, solar panels, windscreens, polarizing films, adhesives and paints. In recent years VAM demand has increased significantly to meet global solar power generation.
 
LOTTE INEOS Chemical has purchased additional land next to the existing plant in Ulsan for the construction of the new VAM plant, and has begun the Front-End Engineering Design (FEED) work with LOTTE Engineering & Construction.
 
David Brooks CEO INEOS Acetyls said: "The INEOS LOTTE team in Ulsan have a very strong record in delivering projects safely and on time. This investment, using well proven INEOS technology, will support our customer growth plans in North East Asia and globally."

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