LG

LG International announced that on July 5, it held a dedication ceremony for the construction of its Bodashidi coal-to-chemicals plant in the Nalinhe industrial district of Inner Mongolia (Nei Menggu), and began its commercial production operations. The Bodashidi plant produces the chemical urea using coal. Last August, LGI acquired a 29% stake worth USD 92 million in the plant from China’s Boyuan Group, thereby becoming the first Korean company to enter the Chinese coal-to-chemicals industry. Beginning commercial production immediately after the completion of the construction of the plant, 940,000 tons of urea per year will be produced. The produced urea will be sold as an agricultural fertilizer in China and exported by LGI. The company expects to see increasing opportunities for creating synergistic effect with coal-to-chemicals business with the further development of the nation’s coal industry with more investments in coalmines.