SK Geo Centric (SKGC) has signed a memorandum of understanding (MoU) with Plastic Energy to establish a joint venture and construct a pyrolysis facility in South Korea. The 66 kta plant (Pyrolysis Plant 2), to be built in the Songsan-2 Foreign Investment Zone in Dangjin, will be the second pyrolysis facility after the Ulsan Advanced Recycling Cluster (ARC) currently being built in Ulsan. The pyrolysis oil produced at Pyrolysis Plant 2 is expected to be further refined at Ulsan ARC’s pyrolysis oil post-treatment facility for use in petrochemical processes. Ulsan ARC, a joint venture of SKGC and Pure Cycle Technologies (PCT), will have a capacity of 66 kta, utilizing Plastic Energy’s advanced pyrolysis technology and PCT’s patented purification technology. Construction is expected to be completed by 2025, with commercial production planned by 2026.