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People & Business :: M&A

SK takes 35% stake in Wuhan petrochemicals jv with Sinopec

3:57 AM MDT | June 6, 2013 | Natasha Alperowicz

China's National Development & Reform Commission said on Wednesday that it has approved the acquisition by SK Group (Seoul) of a 35% stake in a $2.7-billion petrochemicals complex at Wuhan, Hubei Province. Sinopec and SK signed a preliminary agreement in 2011 to form a petchems joint venture at Wuhan. Financial details were not disclosed.   The complex, completed at the end of last year, is designed to produce 800,000 m.t./year of ethylene, 300,000 m.t./year each of high-density polyethylene and low-density polyethylene and 400,000 m.t./year of...

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