Daily Management Review

Saudi Aramco structure to build $6.4B-worth petrochemical complex in China


The project to construct a petrochemical complex in the Chinese province of Fujian has reached a final investment decision, according to Saudi Basic Industries Corporation (SABIC), which is under the authority of Saudi Aramco.

The enterprise will be created in cooperation between Fujian Fuhua Gulei Petrochemical, a state-owned company, and SABIC Industrial Investments Company, or "daughter" SABIC, with a 51% share.

The complex will include process lines producing ethylene glycol, polyethylene, polypropylene, polycarbonate, and other products, as well as a cracking unit capable of producing 1.8 million tons of ethylene.

The project is expected to cost $6.4 billion. Construction is scheduled to begin in the first half of 2024 with pilot operations beginning in the second half of 2026. It is anticipated that commercial operations will start in the first half of 2027.

source: reuters.com