LG Chem to build plastic recycling and aerogel plants in Dangjin

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LG Chem to build plastic recycling and aerogel plants in Dangjin

The LG Twin Tower in Yeouido, western Seoul. [YONHAP]

The LG Twin Tower in Yeouido, western Seoul. [YONHAP]

LG Chem will invest 310 billion won ($233 million) to build a plastic recycling plant and an aerogel plant in Dangjin, South Chungcheong.  
 
The chemical company signed a memorandum of understanding with the South Gyeongsang provincial office and Dangjin city government Wednesday, with CEO Shin Hak-cheol and South Gyeongsang governor Kim Tae-heum and Dangjin Mayor Oh Seong-hwan, in attendance.  
 
The plastic recycling plant will be a plastic pyrolysis facility that heats plastic waste at above 400 degrees Celsius to convert it into fuel oil. The fuel oil can then be processed and reused as a raw material of chemical products.  
 
The plastic pyrolysis market is expected to grow at an annual rate of 17 percent to reach 3.3 million tons in 2030, according to LG Chem.
 
Aerogel, known as a next-generation material, is a class of low-density solid gel where the liquid has been replaced with gas or air. It has been explored in a range of applications including catalysis, thermal insulators, solar energy uses, sensors and photocatalysis.
 
Ground will be broken on both facilities on a 240,000-square-meter site in Dangjin in the first quarter of next year, with the goal of starting mass production in 2024.  
 
Some 150 new jobs will be created through the investment, LG Chem estimated. 

BY SARAH CHEA [chea.sarah@joongang.co.kr]
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