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Sabic and SK Global Chemical form PE manufacturing JV

8:31 AM MDT | May 26, 2014 | Natasha Alperowicz

Sabic Industrial Investment Co., a wholly owned Sabic subsidiary; and South Korean petrochemical company SK Global Chemical today signed a 50-50 joint venture agreement to invest $595 million in projects using self-financing. The jv, based in Singapore, will acquire SK’s cutting-edge Nexlene solution polyethylene (PE) technology as well as the company’s recently completed Nexlene process, 230,000-m.t./year PE plant at Ulsan, South Korea. The agreement is subject to regulatory approvals. The partners plan to establish production facilities for...

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