Lotte Chemical Corporation has built a large-scale petrochemical plant in the U.S. state of Louisiana.

The South Korean company said it held a ceremony Thursday local time to mark the completion of its ethane cracking center(ECC) and ethylene glycol(EG) plant in the city of Lake Charles.

The new factory is a mega chemical complex that sits on one million square meters of land, which is roughly the size of 152 football fields.

It has the capacity to generate one million tons of ethylene and 700-thousand tons of ethylene glycol annually by using U.S.-produced shale gas as the base material. 

Construction of the complex cost three-point-one billion U.S. dollars, standing as the second largest investment ever made in America by a single South Korean firm.

During the opening event, Lotte Group Chairman Shin Dong-bin expressed pride in becoming the first South Korean petrochemical firm to build and operate a world-class facility in the United States.

In a message read by Deputy White House Staff Secretary Sylvia Davis, President Donald Trump said the Lotte plant is the largest U.S. investment by a Korean firm during his administration.

Trump called it a victory for both countries and a testament to their firm alliance.

Prime Minister Lee Nak-yon also attended the ceremony and echoed Trump's view, saying the development of the plant will stand as evidence of the South Korea-U.S. alliance.