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SK Advanced to startup new PP plant in South Korea in March

January 25/2021

MOSCOW (MRC) -- SK Advanced is planning to start up the new PP plant in Ulsan, South Korea this March 2021 as construction works are nearly completed, reported CommoPlast with reference to market sources.

The PP unit is a joint venture between PolyMirae and SK Advanced, using the Spheripol process of LyondellBasell, and have an annual output of 400,000 tons/year.

The unit will be utilizing the propylene output from SKs 600,000 tons/year propane dehydrogenation (PDH) unit at the same complex. It is expected that SK Advanced would have a smaller propylene allocation for export once the new PP line comes online. 

As MRC wrote previously, in October, 2020, Advanced Petrochemical signed an amendment to the partnership agreement between its subsidiary, Advanced Global Investment Co. (AGIC), and SK Gas Petrochemical Pte. Ltd. (SKGP), a unit of SK Gas Co. Ltd.. Under the amendment, an isopropanol (IPA) plant with a capacity of 70,000 tons per annum will be added, along with the Propane Dehydrogenation (PDH) and Polypropylene (PP) plants that were already announced earlier. The company said in a bourse statement that by adding the IPA plant with an estimated cost of SAR 300 million (USD80 million), the total cost of the project for the three factories is currently estimated to be approximately SAR 7.05 billion (USD1.88 billion).

According to MRC's DataScope report, PP imports into Russia increased by 21% year on year to about 202,000 tonnes in the first eleven months of 2020. Propylene homopolymer (homopolymer PP) accounted for the main increase in imports.

Advanced Petrochemical Company  (before Advanced Polypropylene) is a Saudi Joint Stock Company, established in October 2005. The company was initially launched by National Polypropylene Limited, jointly owned by Mr. Khalifa Al Mulhim, the chief executive officer of Advanced, and Mr. Monther Laheeq, who negotiated all the main deals related to the project, either before or after the establishment of Advanced Petrochemical. Currently, National Polypropylene Limited controls 7.9% of Advanced Petrochemical. Advanced Petrochemical started the construction of its plants in May 2005. The company produces 455,000 tons per year of propylene and 450,000 tons per year of polypropylene from its production facility located in Jubail Industrial City, in the Eastern coast of the Kingdom of Saudi Arabia.


mrcplast.com
Author:Margaret Volkova
Tags:PP, homopolymer PP, propylene, Advanced Petrochemical Company, SK Corporation, Russia, South Korea.
Category:General News
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