Sinopec, SABIC Tianjin JV petchem complex to start in Q1 '10

04 November 2009 01:59  [Source: ICIS news]

SHANGHAI (ICIS news)--A new petrochemical complex by a joint venture of Saudi Basic Industries Corp (SABIC) and state-owned Sinopec in China will be ready to begin production by the first quarter of next year, the companies said in a statement late on Tuesday.

Built at a total cost of CNY18.3bn ($2.7bn), the complex in northern Tianjin would have an annual production of 3.2m tonnes of various chemical products, including 1m tonnes of ethylene, as well as other downstream products such as polyethylene, ethylene glycol, polypropylene, butadiene, phenol, & butene-1, the statement said.

The complex includes a 1m tonne/year cracker, a 40,000/360,000 tonne/year ethylene oxide/ethylene glycol (EO/EG) unit, a 300,000 tonne/year linear low density polyethylene (LLDPE) plant, a 300,000 tonne/year high density polyethylene (HDPE) facility, a 450,000 tonne/year polypropylene(PP) plant, a 600,000 tonne/year cracked gasoline hydrogenation unit, a 200,000 tonne/year butadiene extraction facility, a 350,000 tonne/year phenol/acetone unit and a 120,000/50,000 tonne/year methyl tertiary butyl ether (MTBE)/ butene-1 plant.

“We have developed great synergy between the two companies based on our shared goal of providing high quality petrochemical products to the domestic Chinese market. This project will benefit us both greatly,” said SABIC’s Chairman, Prince Saud Bin Thenayan Al Saud.

“The joint-venture ethylene project in Tianjin is another achievement of the constantly developing cooperation in recent years between our two global companies," Sinopec Chairman Su Shulin said. "It has set a new standard of collaboration between the two parties. Sinopec will, together with SABIC, jointly strengthen our current cooperation and maintain long-term strategic partnership."

The two companies formed SINOPEC SABIC Tianjin Petrochemical Co., Ltd, last year as a 50/50 joint-venture to build and operate the new complex.

($1 = CNY6.83)

Dolly Wu contributed to this article

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By: Judith Wang
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