SK Global Chemical Pairs with SABIC to Target Global Polyethylene Market
SK Global Chemical Pairs with SABIC to Target Global Polyethylene Market
  • By Jung Yeon-jin (info@koreaittimes.com)
  • 승인 2015.10.08 11:05
  • 댓글 0
이 기사를 공유합니다

Korean petrochemical manufacturer SK Global Chemical Co has joined hands with Saudi Basic Industries Corp (SABIC), one of the world's largest petrochemicals groups based in Saudi Arabia, to produce high-performance polyethylene products.

SK Global Chemical said on October 7 that the SSNC (SABIC SK Nexlene Company), a SK-SABIC joint venture, held a SABIC SK Nexlene Korea Plant Inauguration Ceremony at SK Global Chemical's Nexlene plant in Ulsan, about 400 kilometers southeast of Seoul.
.
Nexlene™ is SK Global Chemical’s high-performance polyethylene brand. Polyethylene is used in the production of value-added films, automotives, shoes, cables insulation materials, etc.
The Nexlene plant in Ulsan, the nation’s first independently-built petrochemical plant, boasts an annual production capacity of 230,000 tons. In 2004, SK Global Chemical had succeeded in independently developing its own Nexlene™ catalyst, product manufacturing processes.

“SK will look for new areas for business cooperation with SABIC to gain greater synergy from its partnership with SABIC. I believe that SK’s tie-up with leading chemical company SABIC will contribute to strengthening S. Korea-Saudi Arabia ties,” said SK Group Chairman Chey Tae-Won.
“SABIC seeks to develop and invest in groundbreaking technologies and innovations in collaboration with global industry leaders like SK. Thus, the SK-SABIC joint venture marks an important milestone in such efforts,” said SABIC chairman Saud bin Abdullah bin Thenayan Al-Saud.

SK began the construction of the Nexlene plant in 2011 and put it into trial operation in January 2014. In July 2015, SK Global Chemical and SABIC launched the SSNC.

Chairman Chey Tae-Won first proposed the idea of forming a joint venture to then SABIC Vice Chairman Mohamed Al-Mady at the 2010 World Economic Forum in Davos, Switzerland. After the Davos forum, Chey himself met with SABIC’s top management team and finally clinched the deal with SABIC.

Among Korean companies, SK Global Chemical is the only company to pull off a joint venture project with global chemical giant SABIC.


 


댓글삭제
삭제한 댓글은 다시 복구할 수 없습니다.
그래도 삭제하시겠습니까?
댓글 0
댓글쓰기
계정을 선택하시면 로그인·계정인증을 통해
댓글을 남기실 수 있습니다.

  • ABOUT
  • CONTACT US
  • SIGN UP MEMBERSHIP
  • RSS
  • 2-D 678, National Assembly-daero, 36-gil, Yeongdeungpo-gu, Seoul, Korea (Postal code: 07257)
  • URL: www.koreaittimes.com | Editorial Div: 82-2-578- 0434 / 82-10-2442-9446 | North America Dept: 070-7008-0005 | Email: info@koreaittimes.com
  • Publisher and Editor in Chief: Monica Younsoo Chung | Chief Editorial Writer: Hyoung Joong Kim | Editor: Yeon Jin Jung
  • Juvenile Protection Manager: Choul Woong Yeon
  • Masthead: Korea IT Times. Copyright(C) Korea IT Times, All rights reserved.
ND소프트