Saudi Basic Industries Corp. (SABIC) has announced plans to establish a petrochemicals complex in Fujian, China, at an investment of 44.8 billion yuan ($6.4 billion), marking a significant stride in its collaboration with the country, as per the company’s statement on Monday.
The commencement of the project is anticipated in the first half of 2024, with completion targeted by the second quarter of 2027.
The forthcoming complex is projected to yield an annual output of 1.8 million metric tonnes of ethylene, underscoring SABIC’s strategic move to enhance its manufacturing footprint in Asia and foster diversification in its feedstock supply chain, highlighted the statement.
