Posted in | News | Petrochemicals

Samsung and TotalFinaElf Form Petrochem JV

May 29 2003

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TotalFinaElf and Samsung General Chemicals have just signed off on a $1.55 billion petrochemical joint venture. The deal is aimed at the rapidly increasing Asian market, in particular China.

The 50:50 joint venture will be known as Samsung-Atofina and represents one of the largest foreign investments into South Korea. It is due for launch in July 2003.

Samsung will contribute its petrochemicals complex to the joint venture. This plant has capacity to produce 650,000 tons of ethylene, 670,000 tons of styrene monomer and 670,000 tons of polyolefin per year.

For more information on ethylene, click here.

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