Advanced Petrochemical Co has signed a deal to build a new joint venture (JV) 400,000 tonne/year polypropylene (PP) plant in South Korea. The deal was signed with South Korea's SK Advanced Co and PolyMirae Co. Advanced Petrochemical owns a 30% stake in SK Advanced. The new PP plant is estimated to cost around $420 million and the joint venture expects construction to start in January next year, subject to a final investment decision. SK Advanced will have 49.99% ownership of the plant, which is scheduled to begin commercial operations in 2021. The company which operates a propane dehydrogenation (PDH) unit in Ulsan, South Korea will supply the propylene feedstock for the new PP plant. The PDH plant can produce 600,000 tonnes/year of propylene.