SK Gas signs three-party joint agreement for PDH business

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SK Gas signs three-party joint agreement for PDH business

SK Gas signed a three-party joint venture agreement for its propane dehydrogenation (PDH) business with Petrochemical Industries Company (PIC) and Advanced Global Investment Company (AGIC) at the SK Gas’s ECO Hub building, located in Seongnam, Gyeonggi, on Thursday.

PIC and AGIC, companies from Kuwait and Saudi Arabia, respectively, have been injecting capital into the company’s PDH business since its beginning in 2014.

The agreement cemented the sale of roughly $100 billion worth of SK Advanced shares, the subsidiary of SK Gas that operates the PDH business, to PIC, which was announced on Tuesday.

The three parties also agreed to continue their cooperation in the PDH business.

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