Home / Knowledge / News / Textiles / NDRC approves SABIC-Sinopec JV project
NDRC approves SABIC-Sinopec JV project
13
Jul '09
Saudi Basic Industries Corporation (SABIC) announced that it has received an official approval from the Chinese National Development and Reform Commission (NDRC) to participate jointly with China Petroleum & Chemical Corporation (Sinopec) in the Tianjin petrochemical complex currently under construction in Tianjin, China.

This approval follows a strategic cooperation agreement signed by both parties on June 21, 2008 in Jeddah, Saudi Arabia. The agreement stated that both parties would enter into a 50/50 joint venture at Tianjin and would study the feasibility of adding a new product (polycarbonates) that uses raw materials produced at the complex that are based on SABIC technology.

The complex is expected to be completed in September 2009 with investments around $3 billion. The complex's overall production capacity is rated at approximately 3.2 million tons of various petrochemical products, including one million tons of ethylene and other downstream products such as Polyethylenes, Ethylene Glycol, Polypropylene (PP), Butadiene, Phenol, & Butene-1.

China is the world's largest petrochemical market based on high growth rates realized by the Chinese economy. Participation in the Tianjin complex will expand SABIC's presence in Asia and ensure SABIC's closeness to its customers through local availability of its products and services that strengthen SABIC's strategic goal of being the world's preferred supplier of chemicals.

Saudi Basic Industries Corporation (SABIC)

Must ReadView All

Apparel/Garments | On 5th Dec 2016

EC proposes new tax rules to support e-commerce in EU

The European Commission (EC) has unveiled a series of measures to...

Apparel/Garments | On 5th Dec 2016

Traders to intensify adoption of digital payments

Adoption of digital payments in their existing business format would...

Textiles | On 5th Dec 2016

US textile & apparel exports down 6.44% in Jan-Sept ’16

The exports of textile and apparel from United States were down 6.44...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search