SABIC, Sinopec to set up USD1b plastic plant in China

17 May 2011

(MENAFN) Saudi Basic Industries Corp (SABIC) CEO, Mohamed Al Mady, stated that the company plans on setting up a USD1 billion plastic facility with China Petroleum and Chemical Corp (Sinopec), reported Arabian Business.

Al Mady also said that the plan is to produce 260,000 tons of polycarbonate per year to supply the country’s strong demand for plastics. He pointed out that the facility would be located in the city of Tianjin.

The CEO of the world’s largest chemicals producer by market value explained that polycarbonate is essential in the production of a wide range of industrial components and consumer products such as compact discs and automotive parts.

It is worth noting that SABIC and Sinopec started a joint venture in Tianjin in 2010 which produces different petrochemical products such as polypropylene, ethylene, ethylene glycol and polyethylene.

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