SK Gas signs MOU for joint venture with Saudi company

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SK Gas signs MOU for joint venture with Saudi company

SK Gas signed a memorandum of understanding with Advanced Petrochemical Company (APC) of Saudi Arabia on March 12 to start a joint venture in the propane dehydrogenation (PDH) business.

SK Gas started the PDH business in January 2013 and invested 900 billion won. APC’s share will be 25 percent.

The PDH business, which is propane-based, will begin construction this May. It is projected to start operations in 2016.

The estimated product capacity is 600 thousand tons a year, the largest in Korea.

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