[Alpha Biz=(Chicago) Reporter Kim Jisun] LG Chem will build Korea's first hydrogenated vegetable oil (HVO) plant in Daesan, South Chungcheong Province.

It plans to invest hundreds of billions of won in cooperation with Italy's state-run energy company to complete it by 2026.

The LG Chem announced on the 14th that it will establish an HVO joint plant in Italy's ENISM and Daesan, Chungnam. Annie SM is a subsidiary of ENI, Italy's largest state-run energy company, and is carrying out an eco-friendly fuel business centered on HVO.

The two companies signed an agreement on major terms and conditions (HOA) for the establishment of a HVO joint plant in February this year, and are currently carrying out technology feasibility and economic evaluation. The goal is to complete the plant with an annual capacity of 300,000 tons by 2026. The investment is said to be worth hundreds of billions of won.

 

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