Lotte Chemical Pakistan

Lotte Chemical Pakistan Limited, formerly known as Pakistan PTA, is a Pakistani chemicals manufacturer based in Karachi. It is a subsidiary of PTA Global Holding, a joint venture between Montage Commodities FZCO and AsiaPak Investments.[2]

History

Lotte Chemical Pakistan was initially established by ICI Pakistan.[3][4][5] The construction of the plant began in 1996 on a 100-acre site in Port Qasim.[6][7] The plant was commissioned in May 1998 and originally had a production capacity of 400,000 tons per year.[6][8] It was built at a cost of $479.9 million with $170 million in equity invested by ICI Pakistan while $22.5 million was funded through term finance certificate issued in 1995 and remaining $281.5 million were raised through long-term loans including $171.2 million provided by commercial banks in 1996.[9][10] In addition to the main plant, ICI constructed a 34-mile water pipeline at a cost of $30 million, supplying 8.5 million gallons of water daily to the plant.[6][7] ICI also developed a 220-kilovolt industrial power connection and built a grid station, investing $16 million to provide power to its plant.[6]

In 2000, it was demerged from ICI Pakistan to form Pakistan PTA Limited.[4][11]

In 2008, following AkzoNobel's acquisition of Imperial Chemical Industries, it became part of AkzoNobel.[4][11] A year later, in 2009, KP Chemical, a subsidiary of Lotte Corporation, acquired Pakistan PTA and renamed it as Lotte Pakistan PTA Limited.[12][13][11]

In 2012, Lotte commissioned a co-generation plant with a capacity of 40MW.[13][11] A year later, in 2013, Lotte Pakistan PTA Limited was renamed as Lotte Chemical Pakistan Limited.[11]

In November 2025, Lotte Chemical Pakistan was acquired by PTA Global Holding Limited.[14][15]