Home / Knowledge / News / Textiles / Sinopec-SABIC JV unit kicks off
Sinopec-SABIC JV unit kicks off
Nov '09
Saudi Basic Industries Corporation (SABIC) and China Petroleum & Chemical Corporation (Sinopec)celebrated partnership in their new petrochemical complex at Tianjin, China. The two companies formed SINOPEC SABIC Tianjin Petrochemical Co., Ltd, last year as a 50/50 joint-venture to build and operate the new facility.

Built at a total cost of RMB 18.3 billion Yuan (US $2.7 billion), the complex will produce 3.2 million tons annually of various chemical products, including one million tons of ethylene, as well as other downstream products such as polyethylene, ethylene glycol, polypropylene, butadiene, phenol, and butene-1. The million-ton ethylene cracker, along with eight down-stream units and all utilities have been tested and are ready to begin production by the first quarter of next year.

SABIC's Chairman, Prince Saud Bin Thenayan Al Saud, said: “We have developed great synergy between the two companies based on our shared goal of providing high quality petrochemical products to the domestic Chinese market. This project will benefit us both greatly. ”

Sinopec Chairman Su Shulin said: “The joint-venture ethylene project in Tianjin is another achievement of the constantly developing cooperation in recent years between our two global companies. It has set a new standard of collaboration between the two parties. Sinopec will, together with SABIC, jointly strengthen our current cooperation and maintain long-term strategic partnership—to make the JV an outstanding platform for the expansion of future cooperation and the development of our friendship with SABIC.”

In addition to the immediate expansion of local production, the complex will upgrade the chlorine-alkaline industry in Tianjin and promote economic development of New Binhai District and Tianjin municipality. Initial estimates indicate the JV project will support an annual GDP increase of more than four percent in Tianjin and trigger investment of an additional RMB 100 billion Yuan (US $14.8 billion) in downstream and associated industries.

Saudi Basic Industries Corporation (SABIC)

Must ReadView All

Textiles | On 20th Oct 2016

Indian polyester market demand grows 14% in Q2 FY17: RIL

The Indian polyester market witnessed a demand growth of 14 per cent...

Fashion | On 20th Oct 2016

Replay to explore new markets in 2017

Replay, the iconic Germany based denim brand, is planning to get into ...

Textiles | On 20th Oct 2016

Pakistan proposes Rs200 bn for textile sector revival

A bailout package of Rs 200 billion has been proposed by the Pakistan ...

Interviews View All

Angelina Francesca Cheang

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search