SEOUL, December 21, 2018 – Ulsan PP Co., Ltd. and SK Engineering & Construction announced today that they have signed an EPC Contract to construct a new 400,000 ton/year polypropylene plant in the southeastern port city of Ulsan, South Korea. Construction will begin in 2019 and the plant will commence production operations in the first half of 2021.

“This project marks a key milestone for our newly formed company” said Joe Hoinkis, CEO of Ulsan PP. “We are very pleased to enter into this agreement with SK Engineering & Construction who have a strong and long standing reputation for EPC work in the Ulsan area, South Korea and the world.”

According to SKEC official, “The feedstock of this project is propylene, a product from adjacent PDH (Propane De-Hydrogenation) plant which was successfully executed by SKEC.”

Also he stated that SKEC looks forward to executing EPC business by completing Value Chain of C3 derivatives such as “PDH and PP”.

The new polypropylene plant will be one of the largest of its kind in Asia and will utilize LyondellBasell's industry-leading Spheripol technology. Polypropylene manufactured at this new facility will be sold to customers in South Korea and exported throughout Asia and the world for use in automotive components, injection molding, blow molding and packaging film. Some of the polypropylene will also be sold to compounding companies in South Korea and the broader region.

About Ulsan PP

Ulsan PP Co., Ltd. is a joint venture between SK Advanced and PolyMirae, both of which are well respected companies in South Korea and the region.