SABIC Sinopec explore new business opportunities

SABIC and Sinopec to explore new business opportunities

11:30 PM, 16th January 2012
SABIC and Sinopec to explore new business opportunities
Prince Saud bin Abdullah bin Thenayan Al-Saud, Chairman, SABIC.

RIYADH, SAUDI ARABIA: Saudi Basic Industries Corporation (SABIC) and the China Petroleum and Chemical Corporation (Sinopec) signed a protocol of cooperation in Riyadh to explore new business opportunities and confirm their commitment to the principles reached in earlier agreements, including one on polycarbonate collaboration which has been approved by China’s National Development and Reform Commission (NDRC). The protocol sets the foundation for a joint investment from both SABIC and Sinopec to build the new polycarbonate production complex with an annual capacity of 260 kilo metric tonne.

The new facility will be located at the Sinopec SABIC Tianjin Petrochemical Company in Tianjin, China. The plant is expected to get fully operational by 2015. “SABIC and Sinopec’s aspirations are now focused on establishing long-term strategic cooperation that contributes towards enriching Saudi Arabia’s and China’s economies in the areas of scientific research, technology and innovation, engineering and product marketing,” said Prince Saud bin Abdullah bin Thenayan Al-Saud, Chairman, SABIC.

© WOC News



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

Georgia Gulf rejects Westlake’s acquisition proposal

ATLANTA, US: Georgia Gulf rejected Westlake Chemical’s unsolicited proposal to acquire Georgia Gulf for $30.00 per share. “After careful c ...

Read more
Solvay, Air Liquide form joint venture for fluorine gas business

BRUSSELS, BELGIUM/ PARIS, FRANCE: Solvay and Air Liquide announced that they have entered into an agreement to form a worldwide fluorine gas business ...

Read more
BASF Plant Science headquarters moved to North Carolina

LUDWIGSHAFEN, GERMANY: BASF announced that it is concentrating its plant biotechnology activities on the main markets in North and South America. The ...

Read more
Kakinada petrochem project strengthens with new MoU

HYDERABAD, INDIA: Infrastructure major GMR is roped in a partnership to take Kakinada greenfiled petroleum refinery and petrochemicals project forward ...

Read more
Sinopec, Saudi Aramco to build $10 billion refinery in Saudi Arabia

DHAHRAN, SAUDI ARABIA: Saudi Arabian Oil Co and China Petroleum & Chemical Corp will develop a refinery in Saudi Arabia at a cost of as much as $1 ...

Read more
AkzoNobel doubles dimethylether production at Rotterdam plant

AMERSFOORT, THE NETHERLANDS: AkzoNobel Industrial Chemicals is to increase dimethylether (DME) production capacity at its Rotterdam/Europoort plant in ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X