Lotte Pakistan is in the process of expanding its PTA plant located at Port Qasim in hopes that the Pakistan government will accede to the requests made in this regard. These remarks were made by Lotte Pakistan PTA Executive Director Jung Neon Kim while speaking informally to the media. He said that the Lotte PTA plant was in the process of expanding production capacity from 800,000 tonnes to one million tonnes and the company had committed about $400 million in direct investment for the project. He added that the company’s management had requested the government for preferential treatment and a tax holiday, and was awaiting a reply. He also pointed out that Lotte would be earning a lot of foreign exchange for Pakistan as it planned to export a sizeable portion of the increased production to China, the Middle East and India. He said there is also great demand in the domestic market which is growing at a fast pace. Mr Jung Neon Kim also said that Lotte Pakistan was seriously considering entering the beverage market and talks were at an advanced stage involving Lotte ChillSung which was the bottler of Pepsi in Korea. The feasibility of a hydropower project in Punjab was also under consideration, he added. The Lotte Pakistan executive director said there was a lot of economic potential in the country that needed to be properly utilized for future prosperity.
