Sabic and Sinopec Celebrate Joint Complex in China
Saudi Basic Industries Corporation (Sabic) and China Petroleum & Chemical Corporation (Sinopec) have celebrated their partnership in their new petrochemical complex at Tianjin, China. The two companies formed Sinopec Sabic Tianjin Petrochemical Co., Ltd, last year as a 50/50 joint-venture to build and operate the new facility.
Built at a total cost of RMB 18.3 billion Yuan (USD 2.7 billion), the complex will produce 3.2 million tons annually of various chemical products, including one million tons of ethylene, as well as other downstream products such as polyethylene, ethylene glycol, polypropylene, butadiene, phenol, and butene-1. The million-ton ethylene cracker, along with eight down-stream units and all utilities have been tested and are ready to begin production by the first quarter of next year.
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