Two Out of Four: Ineos and Sinopec Finalize Major Petrochemical Projects

Cooperation in Petrochemicals Two Out of Four: Ineos and Sinopec Finalize Major Petrochemical Projects

2023-01-04 Source: Ineos 1 min Reading Time

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Chemical company Ineos and Chinese group Sinopec have finalized two of four major petrochemical deals. The other two projects are also expected to be finalized later this year.

Ineos has acquired a 50 % stake in Shanghai Secco Petrochemical Company.(Source: Secco) — Ineos has acquired a 50 % stake in Shanghai Secco Petrochemical Company.
(Source: Secco)

With the successful completion of the Secco and ABS joint ventures, Ineos and Sinpoec have already successfully completed two of the four agreed petrochemical projects. In the course of this, Ineos has acquired 50 % of Shanghai Secco Petrochemical Company. The partners have also established the 50:50 joint venture for ABS (acrylonitrile-butadiene-styrene), based on Ineos' proprietary ABS technology.

The third and fourth deals are expected to be completed in 2023. The companies will also establish a third 50:50 joint venture to build a new 500 ktpa high-density polyethylene (HDPE) plant in Tianjin, China.

Ineos is also acquiring a 50 % stake in the Tianjin Nangang ethylene project, which is currently being implemented by Sinopec and is expected to come on stream by the end of 2023.

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