London +4420 814 42225
Moscow +7495 543 9194
Kiev +38044 599 2950
info@mrcplast.com

Our Clients

Order Informer

 
Home > News >
 

SABIC signs MOU to build petrochemical complex in China

September 13/2018

MOSCOW (MRC) - Saudi Basic Industries Corp (SABIC)  signed a memorandum of understanding (MOU) with Chinas Fujian provincial government to build a petrochemical complex, as per Reuters.

SABIC is the third company to announce a large chemical investment in China over the past two months.

SABIC did not give any details of the investment or a timeline in a brief release, saying this is part of the firms strategy to diversify its operations and strengthening its position in the worlds top petrochemicals market.

The deal comes as U.S. oil major Exxon Mobil and Germanys BASF have separately announced plans to build ethylene complexes in southern Chinas Guangdong province, part of the countrys massive petrochemical building boom.

SABIC is already a partner with Chinese state oil and gas firm Sinopec Corp in an ethylene plant owned by Sinopecs Tianjin Petrochemical Corp.

In Fujian on the east coast, Sinopec operates a joint-venture refining, petrochemical complex in city of Quanzhou in partnership with Saudi Arabian state oil and gas firm Saudi Aramco and Exxon Mobil.

The Chinese major is also building a separate ethylene plant in Gulei, in the same province.


mrcplast.com
Author:Anna Larionova
Tags:petroleum products, petrochemistry, Crude oil, Sabic, Saudi Arabia.
Category:General News
|
| More

Leave a comment

MRC help

 


 All News   News subscribe