IHS Chemical Week

SK Global Chemical, Sinopec ink JV agreement for Wuhan project

11:04 AM MDT | June 28, 2013

SK Global Chemical, formerly SK Energy, on 28 June signed a joint venture agreement with Sinopec, at Beijing, for the previously announced petrochemical joint venture at Wuhan, China, SK Innovation says. The project involves a total investment of 3.3 trillion South Korean won ($2.88 billion), and it will produce about 2.5 million m.t./year of petrochemical products, including 800,000 m.t./year of ethylene; 600,000 m.t./year of polyethylene; and 400,000 m.t./year of polypropylene. Sinopec will hold a 65% stake in the jv and SK Global Chemical will hold the...

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