Advanced Petrochemical, South Korea’s Gas Co to establish $1 billion JV to produce propylene

14/09/2014 Argaam

Advanced Petrochemical Co.’s subsidiary signed on Sept 11, 2014 an agreement with South Korea Gas Co. LTD (SK Gas) to establish a $1 billion joint venture to produce propylene in Ulsan, Korea.

 

The subsidiary, Advanced Global Investment Co., which is 95 percent owned by Advanced Petrochemical, will have a 35 percent stake in the joint venture, the company said in a statement to the Saudi bourse, Tadawul.

 

The construction work has started and trial operations are expected to start in the first half of 2016.

 

Advanced ’s board this month agreed to invest in a joint venture with SK Gas to build a propane dehydrogenation or PDH plant to produce propylene, according to Argaam.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.