 "Advanced Petrochemical to invest in South Korean PDH plant")
Saudi Arabian firm Advanced Petrochemical Company has decided to invest in propane dehydrogenation (PDH) plant with SK Gas in South Korea for the production of propylene, a valuable petrochemical feedstock used in plastics manufacturing.
The Board of Directors of Advanced Petrochemical Company approved the equity investment of 35% in PDH plant with SK Gas, for the production of propylene in South Korea, through its subsidiary Advanced Global Investment Company (AGIC) which is owned 95% by Advanced and sources of AGIC equity participation will be announced later.
The total cost of the project is expected to be approximately $ 1 billion and the project will be financed 40% equity and 60% debt. The project has commenced the construction activities and it is scheduled to start up in the first half of 2016, with a nameplate capacity of 6,00,000 metric tonnes per annum.
The financial impact of above investment is expected after the commencement of commercial operation of the project in 2016.
The Board of Directors of Advanced Petrochemical Company approved the equity investment of 35% in PDH plant with SK Gas, for the production of propylene in South Korea, through its subsidiary Advanced Global Investment Company (AGIC) which is owned 95% by Advanced and sources of AGIC equity participation will be announced later.
The total cost of the project is expected to be approximately $ 1 billion and the project will be financed 40% equity and 60% debt. The project has commenced the construction activities and it is scheduled to start up in the first half of 2016, with a nameplate capacity of 6,00,000 metric tonnes per annum.
The financial impact of above investment is expected after the commencement of commercial operation of the project in 2016.