SABIC to Invest $6.4 Billion in Joint-Venture Chemical Plant

Jan. 23, 2024
SABIC considers the project to be the centerpiece of its investment footprint in China, and the largest foreign investment in Fujian.

SABIC said Jan. 22 it has finalized investment plans for a joint-venture petrochemical complex in China’s Fujian province.

SABIC will invest approximately RMB 44.8 billion ($6.4 billion) in the operation, called SABIC Fujian Petrochemicals Co. The project is a 51:49 joint venture between SABIC Industrial Investment Company and Fujian Fuhua Gulei Petrochemical Co.

SABIC considers the project to be the centerpiece of its investment footprint in China and the largest foreign investment in Fujian.

The complex will consist of a mixed feed steam cracker, with an expected annual ethylene capacity up to 1.8 million tons, with a series of downstream facilities, including ethylene glycol, polyethylene, polypropylene, polycarbonate and several other units. SABIC expects to complete the construction by 2026.

The final investment decision marks the second key milestone related to SABIC’s joint ventures in recent years, following the start of commercial operation for a new polycarbonate plant at the SINOPEC SABIC Tianjin Petrochemical Co. joint venture in 2023.

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