06.07.2015 • NewsDede WillamsSABICSK Global

SABIC and SK Global Finalize Asian Plastics JV

A year after the initial plans were announced, Saudi Arabian petrochemicals giant SABIC and Korean petrochemical manufacturer SK Global have completed the establishment of a 50:50 joint venture, SABIC SK Nexlene Company, to produce polyethylene products.

Total investment in the new Singapore-based company will be about $640 million.

As part of the deal, the Korean company is contributing its Nexlene technology arm to the joint venture. The technology will be used in the first facility to be incorporated in the joint venture – a 230,000 t/y metallocene LLDPE, polyolefin plastomer and polyolefin elastomer plant at Ulsan, originally built by SK subsidiary Korea Nexlene Company (KNC).

The partners plan to set up another plant in Saudi Arabia, as well as other global production facilities in due course, said Abdulrahman Al Fageeh, executive vice president of SABIC’s Polymers unit.

“By growing our presence in Korea we are opening up new markets globally and reinforcing our position as a global leader – a major goal of our 2025 strategy,” said Yousef Al Benyan, the acting vice chairman and CEO of SABIC.

Interview

Specialty Chemicals in a Shifting World
Adapting to Tariffs and Strengthening Regional Networks

Specialty Chemicals in a Shifting World

Jennifer Abril, President & CEO of SOCMA, discusses the impact of new tariffs and the importance of regional supply networks in the specialty chemical industry.

Whitepaper

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)
Setting the Standard

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)

Are you ready to elevate your pharmaceutical operations? Download our exclusive whitepaper and discover how compliance with Good Distribution Practice (GDP) is essential for the safety and integrity of pharmaceuticals.

most read

Photo
13.03.2025 • News

Roche and Zealand Pharma Collaborate on Weight Management Drug

Swiss pharma heavyweight Roche announced has entered into an exclusive collaboration and licensing agreement with Denmark’s Zealand Pharma. Under the terms of this agreement, the two companies will collaborate to co-develop and co-commercialize petrelintide, Zealand Pharma’s amylin analog as a standalone therapy as well as a fixed-dose combination with Roche’s lead incretin asset CT-388.