Saudi Basic Industries Corporation (SABIC) has signed a joint venture contract with China's Fujian Petrochemical Industrial Group Co., Ltd (FJPEC) to build a world-class mega petrochemical complex in China. With a total investment of about $6.18 billion, the complex will be built at Gulei Industrial Park in Zhangzhou city, East China's Fujian Province.

 

It will consist of a mixed feed steam cracker that holds an annual ethylene capacity of 1.5 million tons, as well as a series of downstream facilities including a mono ethylene glycol (MEG) unit, two polyethylene (PE) units, two polypropylene (PP) units, one polycarbonate (PC) unit and several by-product units.

 

After the project is approved by the relevant departments of the Chinese government, SABIC and Fujian Petrochemical Group will start the design of production equipment and the final investment decision of both parties, jointly promote the implementation of the project, strive to expand and extend the industrial chain of the Gulei petrochemical base, and promote the development of the Fujian petrochemical industry. High-quality and sustainable development will comprehensively enhance the international competitiveness of China’s petrochemical industry.