Lotte Pakistan to Triple PTA Capacity by 2014

Lotte Pakistan is planning to triple its purified terephthalic acid (PTA) nameplate capacity to 1.5 million tons a year by late 2014.

CEO Asif Saad said the cost of expansion will be between $450m to $500m.

The new expansion project runs simultaneous to the construction of the country's first aromatics facility.

Lotte Pakistan will purchase about one million tons of paraxylene as feedstock after the start-up, which is expected by the end of 2014, reports ICIS.