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Saudi Basic Industries Corp. and South Korea’s SK Global Chemical are putting up $595 million to establish a joint venture built around SK’s Nexlene solution polyethylene process. The partners plan to make metallocene-catalyzed linear low-density polyethylene, plastomers, and elastomers. The joint venture will include a plant recently completed by SK in Ulsan, South Korea, with a capacity of 230,000 metric tons per year. The companies are planning a second plant in Saudi Arabia.
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