SABIC completes formation of JV SK Global Chemical Co to produce polyethylene products

06-Jul-15

Saudi Basic Industries Corp. (SABIC) has completed the formation of a joint venture with South Korean petrochemical manufacturer SK Global Chemical Co. to produce polyethylene products, at a total investment of about US$640 millioln for the technology and plant construction. SABIC and SK Global Chemical have successfully concluded negotiations for the 50-50 joint venture that will purchase the unique Nexlene solution technology and a plant that manufactures a range of high-performance Ethylene/Alpha-Olefin copolymers products in Ulsan, South Korea. The joint venture marks the latest SABIC investment in manufacturing capability in the Far East. The plant will produce metallocene based linear low-density polyethylene, polyolefin plastomers and polyolefin elastomers.