SABIC and Sinopec to collaborate in Tianjin production area

Posted By: Religare
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Sinopec SABIC Tianjin Petrochemical Company (SSTPC) has begun working on the polycarbonate production complex with 260,000 metric tons per annum capacity in the Tianjin Binhai New Area.

Prior to this, both China Petroleum & Chemical Corporation (Sinopec) and Saudi Basic Industries Corporation (SABIC) had worked together on an ethylene production project with a capacity of one million metric tonnes per annum.

SSTPC is a joint venture between SINOPEC and SABIC. Each of the two hold 50 per cent equity. The Phase One project has the total annual capacity of one million metric tonnes of ethylene. With a total investment of USD 1.7 billion and covering a ground area of 67 hectares, this polycarbonate production complex with an annual capacity of 260,000 metric tonnes is the Phase Two project and was approved by China's National Development and Reform Commission (NDRC) on 13 January 2012.

Read more about: agriculture
Story first published: Thursday, April 5, 2012, 13:31 [IST]
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