Petrochemical Industry Sabic and Sinopec Cooperate on US $ 1.7 Billion Petrochemicals Plant
Sabic deepens the relationship with its Chinese partner Sinopec by building a common US $ 1.7 billion petrochemicals plant.
Riad/Saudi–Arabia – Sinopec SABIC Tianjin Petrochemical Company (SSTPC) laid the foundation for a polycarbonate production complex with 260,000 metric tons per annum capacity, at a ground-breaking ceremony in the Tianjin Binhai New Area. Previously, China Petroleum & Chemical Corporation (Sinopec) and Saudi Basic Industries Corporation (SABIC) had cooperated on an ethylene production project with a capacity of one million metric tonnes per annum.
Prince Saud remarked: “Today’s ground-breaking ceremony is an important milestone for SABIC. It marks another collaboration we have with Sinopec, and our closer connection with the Chinese people. SABIC and Sinopec have shared ambitions of establishing long-term strategic partnership that contributes towards enriching the economies of Saudi Arabia and China in the areas of scientific research, technology, reform and product marketing.”
Incepted in October 2009, SSTPC is a joint venture with SINOPEC and SABIC each holding 50 percent equity. The Phase One project, with annual capacity of one million metric tonnes of ethylene, has begun production since January 2010. With a total investment of RMB11 billion (US $ 1.7 billion) and covering a ground area of 67 hectares, this polycarbonate production complex with an annual capacity of 260,000 metric tonnes is the Phase Two project and was approved by China’s National Development and Reform Commission (NDRC) on 13 January 2012.
With two sets of phosgene free production systems, with an annual capacity of 130 kilo metric tonnes each, to be built, the new polycarbonate production complex will start construction on 3 April 2012 and is expected to be operational in 2015. Upon operation, it can produce four major classes of polycarbonate, including the mixed grade, extrusion grade, optical grade, and molding grade polycarbonate.