SEOUL – A unit of South Korea’s Lotte Group plans to spend $400 million to expand its petrochemical plant in Pakistan in the second half of this year at the earliest, a media report said on Friday. Under the investment plan, KP Chemical Corp will increase annual production of purified terephthalic acid (PTA) at its Karachi factory to 1.5 million tonnes, from the current 500,000 tonnes, Maeil Business Newspaper said, citing a high-ranking official at Lotte Group.
