PolyMirae, SK Advanced to form new JV PP plant in South Korea

According to market sources, PolyMirae Company Ltd and SK Advanced have announced since beginning of the week regarding the forming of joint venture for new PP plant whereby construction is expected to begin on January 2019 and production begin in 2021.

Based in Ulsan, South Korea, the new PP plant will be using Spheripol PP technology licenced by LyondellBasell and its upstream propylene will be supplied by the nearby SK Advanced’s PDH plant. The plant is having PP production capacity of 400,000 tons/year.

PolyMirae is a joint venture between LyondellBasell (50%) and Daelim (50%), with currently operating 4 PP Spheripol production lines in Yeosu with a total capacity of 700,000 tons/year.

SK Advanced is a joint venture within SK Gas, Advanced Petrochemical Company, and Petrochemical Industries Company, and operates a 600,000 tons/year PDH plant in Ulsan.