Lotte Chemical Pakistan Limited Announces Board Changes

Lotte Chemical Pakistan Limited is a Pakistan-based company, which is engaged in the manufacture and sale of pure terephthalic acid (PTA). PTA is the primary raw material for producing polyester fiber, polyester filament yarn, polyester film, and polyethylene terephthalate (PET). The Company is the local producer and supplier for the domestic polyester and PET industries with short delivery. For producing PTA, it imports its feedstock (Paraxylene) from suppliers based in Asia and the Middle East region. It has also enabled infrastructure development in the Port Qasim area, including a chemical jetty, raw water pipeline, and production of industrial gases through third party contracts. The Company has the capacity to produce approximately 500,000 tons of PTA per year through its plant located at Port Qasim, Karachi.