Belt and Road

31 Aug 2021

China, Saudi Arabia Ink 6 bln USD Joint Venture Deal to Build Mega Petrochemical Complex

31 Aug 2021  by   
Riyadh-based global chemical company SABIC has inked a joint venture contract with China's Fujian Petrochemical Industrial Group Co., Ltd (FJPEC) to build a world-class mega petrochemical complex in China.

With a total investment of 40 billion yuan (about 6.18 billion U.S. dollars), the complex will be built at Gulei Industrial Park in Zhangzhou city, east China's Fujian Province.

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.

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