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Saudi Basic Industries Corp (SABIC) has announced  its plan to construct a $6.4 billion petrochemical complex in Fujian province, China. This project, formed as a joint venture with Fujian Fuhua Gulei Petrochemical, seeks to strengthen Saudi Arabia's ties with China. The complex, initially proposed in 2018, is projected to produce 1.8 million metric tons of ethylene annually. Construction is expected to begin  in the first quarter of 2024, with completion anticipated by the first quarter of 2027. This move aligns with SABIC's strategy to expand its manufacturing footprint in Asia and diversify its feedstock supply china. In addition, the announcement follows other investments by Saudi Aramco in China's downstream sector, including partnerships with Rongsheng Petrochemical and plans to invest in Jiangsu Shenghong Petrochemical and Shandong Yulong Petrochemical Co.

Saudi’s SABIC gives go-ahead for $6.4 bln China petrochemical plant

Saudi Basic Industries Corp (SABIC) has announced  its plan to construct a $6.4 billion petrochemical complex in Fujian province, China. This project, formed as a joint venture with Fujian Fuhua Gulei Petrochemical, seeks to strengthen Saudi Arabia’s ties with China. The complex, initially proposed in 2018, is projected to produce 1.8 million metric tons of ethylene annually. Construction is expected to begin  in the first quarter of 2024, with completion anticipated by the first quarter of 2027. This move aligns with SABIC’s strategy to expand its manufacturing footprint in Asia and diversify its feedstock supply china. In addition, the announcement follows other investments by Saudi Aramco in China’s downstream sector, including partnerships with Rongsheng Petrochemical and plans to invest in Jiangsu Shenghong Petrochemical and Shandong Yulong Petrochemical Co.

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