RIYADH, Saudi Arabia—Saudi Basic Industries Corp. (Sabic) is expanding the production of advanced polyolefin materials in South Korea in response to increasing demand.
The Saudi company has partnered up with SK Geo Centric Co. Ltd. (formerly SK Global Chemicals) for the nearly $150 million (KRW 200 billion) project at an existing production facility in Ulsan, South Korea.
As part of the deal, the partners' joint venture company Sabic SK Nexlene Co. (SSNC) will expand production of polyolefin materials at Ulsan using SK's metallocene process technology.
The plant currently manufactures 230,000 metric tons per annum (230 ktpa) of olefinic polymers, including metallocene polyolefin plastomers and metallocene linear low density polyethylenes.