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The Korea Herald
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THE INVESTOR
March 29, 2024

Industrials

SK’s Chinese JV to invest W740b to hike output capacity

  • PUBLISHED :October 17, 2017 - 15:46
  • UPDATED :October 17, 2017 - 15:46
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[THE INVESTOR] SK Innovation said on Oct. 17 that its joint venture with China’s Sinopec will spend 740 billion won (US$655 million) on expanding its output capacity.

SK Global Chemical, SK Innovation’s affiliate, and Sinopec invested 3.3 trillion won into the Sinopec-SK Wuhan Petrochemical JV in 2013.

The venture, in which SK Global Chemical owns a 35-percent stake, currently churns out some 2.2 million tons of ethylene and other petrochemical goods annually.

Once work to revamp the production process and expand capacity is completed in 2020, the JV’s output capacity will increase to some 3 million tons, according to SK Innovation.

By Alex Lee and newswires (alexlee@heraldcorp.com)

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