SK Engineering secures contract for Advanced Polyolefins’ propane dehydrogenation plant

18/05/2020 Argaam

 

South Korea's SK Engineering & Construction Co. won a contract for the preliminary design of the propane dehydrogenation (PDH) plant, owned by Advanced Polyolefins Co., a subsidiary of Saudi-listed Advanced Petrochemical Co. (APC).

 

The contract is valued at $7.55 billion, and the design process will take six months, South Korean Yonhap News Agency reported.

 

In March 2020, APC signed a deal with South Korea’s SK Gas to construct and operate a propane dehydrogenation (PDH) and polypropylene (PP) plants in Jubail Industrial City.

 

As part of this initiative, Advanced Global Investment Company (AGIC), a subsidiary of APC and SK Gas Petrochemical (SKGP), signed a shareholder agreement to set up a joint venture (JV) called Advanced Polyolefins Company.

 

AGIC will own an 85% stake in the newly formed JV company, while the remaining 15% will be owned by SKGP.

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