Lotte Chemical Pakistan
 | |
| Formerly | Pakistan PTA Limited (2000–2009) Lotte Pakistan PTA Limited (2009–2012) |
|---|---|
| Company type | Public |
| PSX: LOTCHEM KSE 100 component | |
| Industry | Chemical |
| Founded | 1998 |
| Headquarters | Karachi, Pakistan |
Key people | Adnan Afridi (CEO) |
| Revenue |  Rs. 81.619 billion (US$290 million) (2023) |
| Rs. 8.480 billion (US$30 million) (2023) | |
| Rs. 5.077 billion (US$18 million) (2023) | |
| Total assets |  Rs. 43.575 billion (US$160 million) (2023) |
| Total equity | Rs. 22.011 billion (US$79 million) (2023) |
| Owner | PTA Global Holding (75.01%) |
Number of employees | 226 (2023) |
| Parent | PTA Global Holding |
| Website | lottechem |
| Footnotes / references Financials as of 31 December 2023 [1] | |
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]
References
- ^ "Lotte Chemical Pakistan Limited Annual Report 2023". Retrieved 16 January 2025.
- ^ Khan, Tooba (November 13, 2025). "Lotte Chemical Sells Pakistan Unit in Latest Multinational Exit". Bloomberg.
- ^ "PAKISTAN: ICI backs $450 million PTA plant". MEED. October 20, 1995.
- ^ a b c Farooq, Mariam Umar (December 3, 2023). "Why Lotte Chemicals shut down its plant for the second time this year". Profit by Pakistan Today.
- ^ "PAKISTAN: ICI proceeds with rights issue to fund development". MEED. 5 May 1995.
- ^ a b c d Rao, N. Vasuki (May 5, 1998). "ICI PLANT OPENS IN PAKISTAN". Journal of Commerce.
- ^ a b "PAKISTAN: ICI signs PTA contracts". MEED. March 5, 1996.
- ^ Report, Profit (December 2, 2019). "Despite rising demand, Lotte holds off on capacity expansion". Profit by Pakistan Today.
- ^ "PAKISTAN: DuPont takes equity in Pakistan's PTA plant". MEED. 5 January 1998.
- ^ "PAKISTAN: ICI signs loan agreement for PTA plant". MEED. April 26, 1996.
- ^ a b c d e "Lotte Chemical Pakistan Limited". Brecorder. July 18, 2017.
- ^ "Lotte Pakistan plans to increase plant capacity". The Express Tribune. March 26, 2011.
- ^ a b "Lotte invests $800m in Pakistan". DAWN.COM. January 21, 2010.
- ^ "Lotte Chemical Pakistan under new ownership as South Korean parent exits". Brecorder. 2025-11-12. Retrieved 2025-11-12.
- ^ "Control of LOTTE Chemical Pakistan shifts as PTA Global Holding completes major buyout". Profit by Pakistan Today. 2025-11-12. Retrieved 2025-11-12.
