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Advanced Petrochemical Co. awarded a $350.6 million engineering, procurement and construction (EPC) contract to SK Engineering & Construction for a 400,000 metric tons per annum polypropylene plant in Ulsan, South Korea. The contract was signed on Dec. 21, 2018 by Ulsan Polypropylene Ltd., a joint venture between SK Advanced Ltd. and PolyMirae Ltd.
Advanced Petrochemical Co. signed a five-year off-take agreement with US-based Vinmar International Ltd. for the sale of polypropylene, effective from Jan. 1, 2019, covering 175,000 metric tons in 2019 and 144,000 metric tons per annum from 2020 to 2023.