Kuwait – Mubasher: Petrochemical Industries Company completed the deal to acquire 25% stake in a subsidiary of SK Gas, a South Korean company, Deputy Prime Minister of Finance and Acting Minister of Oil, Anas Al-Saleh, said on Monday.
Al-Saleh clarified that the deal is to build a propylene production factory in South Korea with capacity of 600 thousand tons per year, according to Kuwait News Agency (Kona).
Petrochemical Industries’ CEO, Asaad Al-Saad, said that the deal is important, and will open up new horizons for the oil sector and more investments in East Asian countries, and expected the actual production to start next march.
