Petrochemical Complex Chinese Project

| Editor: Manja Wühr

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Beijing/PR China (fel) – Sabic and Sinopec have signed financing agreements totalling $ 2.68 billion, including $ 1.8 billion long-term financing, plus an additional $ 880 million in working capital facilities to finance its petrochemical complex in Tianjin/China, that is owned jointly by Sabic and Sinopec. The two companies formed Sinopec Sabic Tianjin Petrochemical (SSTPC) in November, 2009, as a 50/50 joint venture to build and operate the new petrochemical complex.