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Sabic to commence $6.4bn project in China in 2024

The Sabic HQ in Riyadh. The petrochemicals factory in China will have an annual ethylene capacity of up to 1.8 million tonnes Sabic
The Sabic HQ in Riyadh. The petrochemicals factory in China will have an annual ethylene capacity of up to 1.8 million tonnes

Saudi Basic Industries Corporation (Sabic) will start constructing a $6.4 billion petrochemicals complex in Fujian, China, during the first half of 2024.

The Saudi-listed petrochemicals producer announced its final investment decision, which allows the development of the mega complex, after signing a memorandum of understanding (MoU) with the Fujian Provincial Government in 2018.

The project will be executed by a joint venture between Sabic Industrial Investment Company, a wholly-owned subsidiary of the Saudi-listed firm, and Fujian Fuhua Gulei Petrochemical Company.

Under the partnership, Sabic’s unit will hold a majority stake of 51 percent in the project, with Fujian Fuhua Gulei owning the remaining 49 percent stake.

The complex will have a mixed-feed steam cracker and an anticipated maximum annual ethylene capacity of up to 1.8 million tonnes.

The project will feature downstream facilities for ethylene glycols, polyethylene, polypropylene, polycarbonate, and several other units using the latest technologies. The unit will use nine technologies developed by Sabic.

Preparations for commissioning and startup are planned to commence in the second half of 2026, lasting for six months.

Funding for the venture will be secured through a combination of debt and internal cash flows.

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