Saudi's Advanced Petrochemical invests in PDH plant in Korea

SAUDI ARABIA–Advanced Petrochemical Company is pouring equity investment of 35% into a PDH plant project with SK Gas. The project targets to produce propylene in South Korea, through its subsidiary Advanced Global Investment Company (AGIC) which is owned 95% by Advance Petrochemical Co.

The total cost of the project is expected to reach about US$ 1 billion (SR 3.75 billion) to be financed through 40% equity and 60% debt.

Construction activities for the project have started with scheduled start up in the first half of 2016, with a nameplate capacity of 600,000MT/year.