SABIC, South Korean Chemicals Inc. sign agreement to manufacture high quality polyethylene

SABIC, South Korean Chemicals Inc. sign agreement to manufacture high quality polyethylene

RIYADH-  Saudi Basic Industries Corporation “SABIC” and South Korean Chemicals Inc. International Ltd., signed in the Korean capital of Seoul yesterday(May 26th) a joint venture agreement to manufacture a set of high quality polyethylene products, by using the technology (Niekslin ™), and they are now working to obtain regulatory approvals.

The agreement was signed by SABIC’s Vice Chairman of Board of Directors and Chief Executive Officer Engineer Mohamed bin Hamad Al-Mady while the South Korean company was represented by its Vice Chairman of Board of Directors and Chief Executive Officer Ja-Young Ku.

It is worth mentionening that the $ 595 million joint venture is owned equally between the two parties.-SPA

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