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Home > News > Corporate News

US$6.4 billion investment confirmed for SABIC Fujian Petrochemical Complex

Source:Adsale Plastics Network Date :2024-01-30 Editor :RC
Copyright: This article was originally written/edited by Adsale Plastics Network (AdsaleCPRJ.com), republishing and excerpting are not allowed without permission. For any copyright infringement, we will pursue legal liability in accordance with the law.

SABIC announced final investment decision (FID) for the SABIC Fujian Petrochemical Complex (Sino-Saudi Gulei Ethylene Complex Project) in Fujian, China.


SABIC_Brand Flag_480.jpg

SABIC announced FID for the SABIC Fujian Petrochemical Complex in China.

 

SABIC FUJIAN Petrochemicals is a 51:49 joint venture between SABIC Industrial Investment Company, which is wholly owned by SABIC, and Fujian Fuhua Gulei Petrochemical.

 

With an estimated total investment of RMB 44.8 billion (US$6.4 billion), the joint venture decided to build the Complex in Fujian’s Gulei Industrial Park. This investment is by far the largest foreign investment in Fujian.

 

The complex will consist of a mixed feed steam cracker, with an expected annual ethylene capacity up to 1.8 million tons, and a series of world-class downstream facilities, including ethylene glycol (EG), polyethylene (PE), polypropylene (PP), polycarbonate (PC), and several other units.

 

Construction and subsequent operation of the project use nine of SABIC’s leading technologies for applications in electrical and electronics, artificial intelligence, smartphones, telecommunications, healthcare, automobile and advanced materials.

 

“The project aims to support our goal of diversifying our feedstock sources and establishing a petrochemical manufacturing presence in Asia for a wide range of products, and the FID decision fully reflects SABIC’s commitment to provide solutions to our customers and maximize shareholders value,” stated Abdulrahman Al-Fageeh, CEO of SABIC.

 

The construction of the project targets to complete in 2026.


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