White & Case Assisted Korea’s Lotte Chemical in $2.4 Billion Indonesian Project

White & Case Assisted Korea’s Lotte Chemical in $2.4 Billion Indonesian Project

White & Case has provided legal counsel to Lotte Chemical and its subsidiary Lotte Chemical Indonesia, both affiliates of Kores, with the development and financing of a substantial $2.4 billion naphtha cracker project situated in the Banten Province of Indonesia.

By undertaking this project, Lotte Chemical is set to become the first South Korean company to commercially produce a petrochemical product using naphtha made from plastic waste. As the country's second-largest producer of ethylene, after LG Chem, Lotte Chemical aims to establish itself as a major player in the global ethylene market.

Leading the team from White & Case was Sungjin Kang, a partner with extensive expertise in the field. Additionally, Tim Fourteau, another partner at the firm, played a crucial role in the project.