LG Chem says drops plan to invest in polysilicon business
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South Korea’s largest chemical company, LG Chem, on Tuesday said it had dropped a plan to invest in the polysilicon business, citing difficult prospects for a market turnaround in the short term.
In 2011, the company had announced plans to build a 5,000-tonne-per-year plant, at a cost of 491 billion won ($408 million), to turn out polysilicon, which is used to make solar panels. ($1=1,202.9500 won) (Reporting by Hyunjoo Jin; Editing by Clarence Fernandez)
