23-07-2018 | 12:48
LG Chem (South Korea) and Jizzax plastmassa JSC (Uzbekistan) are creating a joint venture to produce biaxially oriented polypropylene (BOPP) film, Spot.uz reports citing data from the Unified Corporate Information Portal.
The project is estimated at USD40 million. According to forecasts, the annual capacity of the project will be 3.5 thousand tons. The project implementation period is 2019-2020.
In addition, Jizzax plastmassa AS will launch the production of new types of consumer goods from polymers, as well as composite products for industrial needs.
Earlier it was reported that in April 2018, the Russian company Ecoplastics and LG Chem agreed on a business strategy in the production and supply of Korean polyolefins in Russia. At the talks, the key task was announced - to ensure a threefold increase in sales of polyolefin elastomers (POE) and plastomers in Russia along with an increase in POE production at LG Chem capacities from 90 thousand tons to 290 thousand tons per year in 2018.
Jizzax plastmassa JSC is a plant in the south-eastern part of Jizzakh, Uzbekistan. It was designed in the sixties and put into operation in 1972. In terms of production, the plant ranked second among the four largest plants in the USSR. For most of its history, the plant has remained the main supplier of film and pipes for the agricultural and construction sectors of Uzbekistan.
South Korean LG Chem is one of the largest chemical companies in the world. The company produces a wide range of products - from petrochemical products to high-tech plastics.
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