The new company is being established for the PDH project, also in Ulsan, which will have the capacity to produce 600,000 t/y of propylene using Lummus Technology's Catofin dehydrogenation process. The project is expected to cost about USD 1-billion and production is planned for the first half of 2016.

AGIC will hold a 35 % equity interest in the new joint venture.

Source: Weekly "PetroChemical News", Durham, NC, USA; 22 Sept 2014
(Syed Rashid Ali, Karachi, Pakistan)

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