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SABIC AND SINOPEC ANNOUNCE COMMERCIAL OPERATION OF PC PLANT AT JOINT VENTURE SSTPC

September 8, 2023

Latest company news about SABIC AND SINOPEC ANNOUNCE COMMERCIAL OPERATION OF PC PLANT AT JOINT VENTURE SSTPC

SABIC and SINOPEC announced the commercial operation of a new polycarbonate (PC) plant at their 50-50 joint venture (JV) – SINOPEC SABIC Tianjin Petrochemical Co. Ltd. (SSTPC). Khalid Hashim Al-Dabbagh, SABIC Chairman and Ma Yongsheng, SINOPEC Chairman attended the ceremony.

 

Established in 2009, SSTPC is a mega-size petrochemical complex that already consists of nine world-scale production plants producing chemicals, polyethylene, and polypropylene. With an annual designed capacity of 260 kT, the new PC plant is a vital component of SABIC’s PC growth strategy in China, allowing for further collaborations with global and local customers. The development of the PC plant marks the next chapter of the JV and strengthens the partners’ capability to meet regional PC market demands.

 

Abdulrahman Al-Fageeh, SABIC CEO said, “By working in partnership, SABIC and SINOPEC are unlocking significant and mutual growth opportunities that complement the national agendas of Saudi Arabia and China. Building on our position as one of the world’s leading polycarbonate manufacturers, our first-ever PC plant in Asia underlines our commitment to operate and manufacture in markets that are close to our customers to increase service capabilities, agility, and supply reliability.”

 

Al-Fageeh continued, “For almost 40 years, China has been a key strategic market for SABIC and our investment in Tianjin reflects our position as a trusted supplier, investor and partner for sustainable and inclusive growth.”

 

The availability of SABIC’s polycarbonate will primarily be for customers in the Greater China region, targeting major PC-related industries such as Electricals & Electronics, Consumer Goods & Appliances, automotive, healthcare products and Building and Construction applications. SABIC’s portfolio of PC materials produced at SSTPC will be marketed under its LEXAN™ resin brand.

 

Ma Yongsheng, Chairman of SINOPEC said, “SINOPEC consistently strives to propel the development of SSTPC and facilitate China-Saudi petrochemical cooperation. The successful commercial operation of the PC plant marks a successful case of China’s petrochemical industry towards high-end chemical materials. Looking ahead, SINOPEC will further leverage its advantages to accelerate the development of PC materials, contributing to satisfying the needs of high-performance petrochemical materials generated by the Chinese people’s pursuit of a better life.”

 

Polycarbonate is a transparent, high-impact, and strong yet lightweight material, used widely in automotive parts, home appliances, medical products, and many everyday products. Future demand for polycarbonate and other engineering plastics is expected to grow in China, to support the increasing production of electronics, automotive, information technology and building materials.

 

SSTPC has served as the epitome of close China-Saudi economic ties. In 2016 and 2017, during King Salman bin Abdulaziz Al-Saud Custodian of the Two Holy Mosques, and Xi Jinping, President of China’s mutual visits, SABIC and SINOPEC signed a series of memorandums of cooperation under the patronage of the leaders of two countries, with the polycarbonate plant’s joint construction being underlined as one of the most important projects.

latest company news about SABIC AND SINOPEC ANNOUNCE COMMERCIAL OPERATION OF PC PLANT AT JOINT VENTURE SSTPC  0

Ps: The above news come from sabic official website.

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