Home / Knowledge / News / Textiles / Tianjin Industrial Complex to produce 1.2 mn tons of ethylene
Tianjin Industrial Complex to produce 1.2 mn tons of ethylene
23
Jun '08
Saudi Basic Industries Corporation (SABIC) and China Petrochemical Corporation (SINOPEC) signed on (Saturday, June 21, 2008) in Jeddah, a strategic cooperation agreement to expand the scope of partnership at Tianjin industrial complex, China, currently under construction.

The agreement signed during the visit of Chinese Vice President Xi Jinping is designed to expand the heads of agreement (HOA) signed by the two companies on Jan 31, 2008, whereby SABIC will have 50% of the Tianjin complex joint venture together with a feasibility for adding a new product (polycarbonates) by using raw materials produced at the complex based on SABIC Innovative Plastics technology.

The agreement also called for joint work in other future projects in China depending on each party capabilities in addition to cooperation in certain areas such as engineering services, project implementation, R&T, product marketing, and material procurement.

Prince Saud bin Abdullah bin Thenayan Al-Saud, Chairman of the Royal Commission for Jubail and Yanbu, SABIC Board Chairman signed for SABIC while Su Shulin, SINOPEC Board Chairman signed for his company.

The complex is expected to be completed in September 2009 with investments exceeding $2.5 billion. The overall production capacity of the complex will be approximately 4 million tons of different petrochemical products including 1.2 million tons of ethylene and other products such as poly propylene (PP), butadiene, phenol, and butene-1.

China is the biggest world petrochemical market in light of high growth rates realized by the Chinese economy. SABIC plans to set up a manufacturing center in China to boost its presence in Asia where China represents the biggest market in the Asian continent.

This ensures that SABIC is as close as possible to its customers through its products and services. This move follows SABIC's ambition to realize its vision “To be the preferred world leader in chemicals.”

Saudi Basic Industries Corporation


Must ReadView All

Courtesy: Trinity Kubassek from Pexels

Textiles | On 19th Aug 2018

Australian wool production to fall 5.7% in 2018-19

Shorn wool production in Australia is likely to fall by 5.7 per cent...

Courtesy: Next Level Apparel

Apparel/Garments | On 19th Aug 2018

Blue Point Capital recapitalises Next Level Apparel

Blue Point Capital Partners has recapitalised Next Level Apparel, a...

Retailers approaching 100% inventory accuracy: Study

Apparel/Garments | On 19th Aug 2018

Retailers approaching 100% inventory accuracy: Study

With computer vision use cases maturing, Artificial Intelligence (AI) ...

Interviews View All

Top executives
Textile industry

GST has levelled the playing field to an extent

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Ravi Raj Desai

Himalaya Cotton Yarn Ltd manufactures high quality denier. The spinning...

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mike Hoffman
Gildan Activewear SRL

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

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Karan Arora
Karan Arora

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

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

Leave your Comments


August 2018

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

news category


Related Categories:

Advanced Search