White & Case has advised Kores’s Lotte Chemical and its unit Lotte Chemical Indonesia on the development and financing of a $2.4 billion naphtha cracker project in Indonesia's Banten Province.

Through this project, Lotte Chemical will become the first South Korean company to commercially produce a petrochemical product using naphtha made from plastic waste, BusinessKorea reported. A unit of Lotte Group, Lotte Chemical is the country's second-largest producer of ethylene after LG Chem, and aiming to become a major player in the global ethylene market.

The White & Case team was led by partner Sungjin Kang, and included partner Tim Fourteau.