Hydrocarbon Processing Copying and distributing are prohibited without permission of the publisher
Email a friend
  • Please enter a maximum of 5 recipients. Use ; to separate more than one email address.



SK Global signs final deal with Sinopec for Chinese petrochemical venture

06.28.2013  | 

Production at the plant in Wuhan, central China, will start in the second half of the year. The plant will have annual capacity of about 2.5 million tons of petrochemical products, including ethylene.

Keywords:

By IN-SOO NAM

SEOUL -- SK Global Chemical said it has signed a final agreement with Chinese state refiner Sinopec for a $2.9 billion petrochemical joint venture.

Production at the plant in Wuhan, central China, will start in the second half of the year, SK said in a statement. The plant will have annual capacity of about 2.5 million tons of petrochemical products, including ethylene, it said.

An initial agreement on the project was signed in December 2011.

SK Global Chemical will own 35% of the project, the largest petrochemical joint venture between the two countries, while Sinopec holds the remaining stake, it said.

The deal comes during South Korean President Park Geun-hye's four day visit to China this week, which was accompanied by the largest-ever South Korean business delegation to China of 71 corporate bosses, including SK Innovation Vice Chairman Koo Ja-young.

Ethylene is widely used as a feed stock material to produce various petrochemical products, including polyethylene and polyvinyl chloride used in plastics.

Dow Jones Newswires



Have your say
  • All comments are subject to editorial review.
    All fields are compulsory.

Related articles

FEATURED EVENT


Sign-up for the Free Daily HP Enewsletter!

Boxscore Database

A searchable database of project activity in the global hydrocarbon processing industry

Poll

Should the US allow exports of crude oil? (At present, US companies can export refined products derived from crude but not the raw crude itself.)


66%

34%




View previous results

Popular Searches

Please read our Term and Conditions and Privacy Policy before using the site. All material subject to strictly enforced copyright laws.
© 2014 Hydrocarbon Processing. © 2014 Gulf Publishing Company.