SAUDI ARABIA

Sabic Inaugurates Korean Plant

Saudi petrochemicals giant Sabic and Korea’s SK Global Chemical have inaugurated a joint venture which will operate a 230,000 tons/year specialty polyolefins plant at the port of Ulsan in southeastern Korea. Besides bringing Sabic 50% equity in the plant, the venture also gives it access to SK’s proprietary Nexlene process technology.

The $640mn agreement was concluded in July, after SK started up the plant in May. The plant will...