Saudi Basic Industries Corporation (SABIC), will launch the first joint investment project with Korean group (SK Global) on Wednesday in the city of Ulsan, Republic of Korea in the presence of Prince Saud bin Abdullah bin Thunayan, Chairman of the Royal Commission for Jubail and Yanbu and Chairman of SABIC's Board of Directors and Saudi Charge D'affaires to Korea Fahd Al-Mutairi. The holding joint company, (SABIC SK Niekslin), was established equally between (SABIC) and (SK Global Chemical) in July, its headquarter in Singapore and the company (Korea Niekslin), a wholly owned subsidiary of the new holding company, owns the factory located in the city of Ulsan, which has an annual production capacity of 230,000 tons of various materials, with a total approximate value for the purchase of the technology and the plant amounted to US $ 640 million. The new plant will produce materials of polyethylene of linear low density manufactured by the technology of metallocene, polyolefin blastomrat, and polyolefin rubber to meet the growing needs in a variety of industrial sectors, such as advanced packaging, automotive, health care, shoe industry, and electrical and lighting industry.
