The Saudi Basic Industries Corporation (SABIC), a player in diversified chemicals, has approved the final investment decision for the SABIC Fujian Petrochemical Complex Project, also known as the Saudi-Chinese Gulei Ethylene Complex Project, set to be established in Fujian Province, China.
The joint venture, SABIC Fujian Petrochemical Company Limited, has been formed with a 51% ownership by SABIC Industrial Investments, a wholly-owned subsidiary of SABIC, and a 49% ownership by Fujian Petrochemical Company Limited (FPCL).
As reported by Kemicalinfo, the collaboration marks the initiation of an industrial complex in the Gulei area of Fujian Province. The envisioned complex aims to annually produce 1.8 million tons of ethylene and will host cutting-edge manufacturing facilities for ethylene glycol, polyethylene, polypropylene, polycarbonate, and various other units. The project’s construction is slated for completion by 2026.
