SABIC SK Nexlene in South Korea likely to start production before 2022-end: Al-Benyan

19/01/2022 Argaam
Yousef Al-Benyan, CEO of SABIC

Yousef Al-Benyan, CEO of SABIC

Yousef Al-Benyan, CEO of Saudi Basic Industries Corp. (SABIC), said the Saudi-Korean joint venture (JV), SABIC SK Nexlene, which is located in South Korea, with investments worth $2 billion, is nearing completion, Asharq News reported.

 

He expects the JV to start production before the end of this year, with a capacity of one million tons of diversified petrochemicals.

 

With the start of production, the company will begin establishing similar projects in Jubail, Al-Benyan added.

 

SABIC SK Nexlene was established in 2014 as a JV between SABIC and South Korean petrochemical producer SK Global Chemical Co., with SAR 1.13 billion in capital, according to data available with Argaam.

 

The JV mainly produces the linear low-density polyethylene, propylene, elastomers, polyolefins, and other petrochemicals.

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.