Written on 08.06.2014 - Industry
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KOREA (SOUTH)/SAUDI ARABIA: Sabic and SK Global establishing venture for PE production with Nexlene process

Saudi Basic Industries Corp. (Sabic) and SK Global Chemical have signed an agreement on investing USD 595-million in an equally-owned joint venture to produce high-performance polyethylene (PE) products using SK’s Nexlene solution technology.

The venture, based in Singapore, is expected to operate a series of production units, the first being SK’s recently completed 230,000-t/y facility in Ulsan, South Korea. The plants will produce metallocene linear low-density PE, polyolefin plastomers and polyolefin elastomers.

A second plant is planned for Saudi Arabia, and, over time, production bases will be established worldwide.

“Nexlene will serve as a growth engine for both of our companies,” commented SK Chief Executive Cha Hwa Youp. “The joint venture will continue to upgrade Nexlene technology and set up production bases at locations that exhibit competitiveness in the high-end PE industry.”

Source: Weekly "PetroChemical News", Durham, NC, USA; 2 June 2014
(Syed Rashid Ali, Karachi, Pakistan)