Tuesday, 16 January 2018 09:53 GMT

Saudi's APC to invest USD1b in a project in South Korea

(MENAFN) Saudi's Advanced Petrochemical Company is planning to invest in a USD1 billion project to produce propylene in South Korea, Arabian Business reported.

The propane dehydrogenation project (PDH), will be a joint venture with South Korea's SK Gas and is due to start in the first half of 2016, with the project being financed 40 percent equity and 60 percent debt.

The project, one completed, will have an annual production capacity of 600,000 tons and APC is set to hold a 35 percent stake in the project.

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