Advanced Petchem to start trial production of propylene JV in Q1-2016

25/10/2015 Argaam

Advanced Petrochemical Co. plans to start trial operation of its PDH plant of SK Advanced Co. in South Korea in the first quarter of 2016 after completing the mechanical operations of the joint venture a month ahead of schedule, the company said in a statement to the Saudi bourse, Tadawul.

 

The financial impact of operating the factory, which has a capacity of 600,000 tons of propylene a year, will be reflected sometime next year following the commercial operation, it added.

 

Advanced Petrochemical owns 95 percent of Advanced Global Investment Company which in turn owns 35 percent stake in SK Advanced, while SK Gas Co controls 65 percent stake.

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