Axiall and South Korean firm Lotte Chemical signed an agreement to partner on the design, construction and operation of a one-million-metric-ton-per-year ethane cracker to be located in Louisiana. Axiall announced Dec. 19 it had selected Louisiana as the site for its new project and could spend as much as $3 billion pending a deal with an investment partner. Axiall and Lotte expect to award a FEED contract for the cracker in the first quarter of 2014. Lotte operates three ethylene crackers with more than 2.8 million metric tons of capacity worldwide. Axiall currently operates plants in Lake Charles and Plaquemine, La.
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