# Taekwang Industrial and LG Chem form JV for acrylonitrile plant in Ulsan

Taekwang Industrial and LG Chem established a joint venture, TL Chemical Co., Ltd., to build a 260,000-ton-per-year acrylonitrile plant near Ulsan, South Korea. Taekwang Industrial holds 60% and LG Chem 40%, with total initial investment of 121.3 billion KRW.

- Type: Partnership
- Announced: 2021-06-02
- Where: Ulsan, South Korea
- Value: $108.0M (121.3B KRW)
- Status: announced
- Capacity: 260,000 tons per year
- Products: acrylonitrile
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [LG Chem](https://endata.com/companies/2456.md) (partner)
- [Taekwang Industrial](https://endata.com/companies/55550.md) (partner)

## Sources

- [asiae.co.kr](https://www.asiae.co.kr/en/article/2021060216525859344), 2021-06-02: "Through this joint venture, we can share the risks associated with large-scale investment while enhancing the competitiveness of our core businesses and expanding market dominance."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.