Advanced Petrochemical signed an amendment to the partnership agreement between its subsidiary, Advanced Global Investment Co. (AGIC), and SK Gas Petrochemical Pte. Ltd. (SKGP), a unit of SK Gas Co. Ltd.
Saudi Arabia’s Advanced Petrochemical Company is planning to add a 70,000 tonnes per annum capacity Isopropanol (IPA) plant as part of its joint venture project in Jubail Industrial City, according to an Arab media report.
In March, Advanced Petrochemical’s subsidiary, Advanced Global Investment Company (AGIC) has signed a shareholders’ agreement with SK Gas Petrochemical (SKGP), a subsidiary of South Korea’s SK Gas Co, to set up Advanced Polyolefins Company to manufacture propylene and polypropylene.
The planned propane dehydrogenation (PDH) and polypropylene (PP) complex in Jubail Industrial City has a design capacity of 843,000 metric tons per annum of propylene and 800,000 metric tons per annum of polypropylene.
The statement said the new plant would cost an estimated $80 million (300 million Saudi riyals), adding that the total cost of the entire project, comprising of PDH, PP and IPA facilities, is currently estimated to be approximately $1.88 billion (7.05 billion riyals).
