Westlake Chemical Corp.'s subsidiary, Eagle US 2, purchased an additional 34.78% of membership interests in the LACC LC joint venture from Lotte Chemical for $816.5 million.
LACC is a joint venture between LC USA and Eagle US for the development of an ethane cracker plant in Louisiana. After the sale, Eagle US’ shareholding in LACC has increased, while LC USA continues to hold the majority of the shareholding.
The joint venture opened a $3.1 billion ethylene glycol production plant near Lake Charles, La. in May 2019. The complex, which broke ground in June 2016, includes an ethane-cracker plant and an ethylene glycol plant. The combined site encompasses approximately 250 acres.
