Lotte Pakistan is in the process of expanding its PTA plant, located at Port Qasim, and hopes that the Pakistan government will accede to the requests and suggestions which were made in this respect. These remarks were made by Jung Neon Kim, Executive Director, Lotte Pakistan PTA Ltd, while speaking informally to media.
He said that Lotte PTA plant is in the process of expanding production capacity from 800,000 tons to one million tons, and it has committed about $400 million in direct investment for the project. He said that in return the Lotte management had requested the government for preferential treatment, and a tax holiday, and was awaiting reply to its recommendations.
He also pointed out that Lotte would be earning a lot of foreign exchange for Pakistan as it plans 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 as well, which was growing at a fast pace.-PR
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