Sunday 26 September 2021

SABIC inks $6bn China petrochemical deal

BEIJING, 24 days ago

Aramco’s chemical arm, SABIC, has signed a joint venture contract with China's Fujian Petrochemical Industrial Group (FJPEC) to build a mega petrochemical complex in China, the Xinhua News Agency reported.
The complex will be built at the Gulei Industrial Park in Zhangzhou city, east of China's Fujian Province, at a total investment of 40 billion yuan ($6.18 billion). 
It will consist of a mixed feed steam cracker that holds an annual ethylene capacity of 1.5 million tons, as well as a series of downstream facilities including a mono ethylene glycol (MEG) unit, two polyethylene (PE) units, two polypropylene (PP) units, one polycarbonate (PC) unit and several by-product units.
Sabic had announced in September 2018 that it had signed a memorandum of understanding (MoU) with the Fujian provincial government to build a world-class petrochemical complex in China's southeastern province. –Tradearabia News Service


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