SABIC and Sinopec had announced their collaboration by signing a Heads of Agreement (HoA) between the two companies for development of a 1 mil tonne per year capacity of ethylene derivatives chemical plant in Tianjin, China. It will be a 50:50 joint venture investment for production of 600 ktpa of polyethylene (PE) and 400 ktpa of ehtylene glycol (EG) chemical plants.
The feedstock for the downstream derivatives will be supplied from a cracker by Tianjin Petrochemical. Completion of the project is expected to be by Q4 2009 with investment cost of $1.7 billion.
The collaboration is the first SABIC's joint venture in China, a step that is seen will be a stepping stone for an even more agressive move towards establishing a petrochemical base in China from SABIC.
The feedstock for the downstream derivatives will be supplied from a cracker by Tianjin Petrochemical. Completion of the project is expected to be by Q4 2009 with investment cost of $1.7 billion.
The collaboration is the first SABIC's joint venture in China, a step that is seen will be a stepping stone for an even more agressive move towards establishing a petrochemical base in China from SABIC.
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