SABIC,Sinopec to build 1 mil mt/year PE-MEG plant in Ti

摘要

London-China Petroleum and Chemical Corporation (Sinopec) and Saudi Basic Industries Corporation (SABIC),January 31,signed a Heads of Agreement to form a 50:50 joint venture company to invest in a 1 million mt/year ethylene derivatives complex in Tianjin,SABIC said.The complex will house a 600,000 mt/year polyethylene plant and 400,000 mt/year ethylene glycol plant.Ethylene feedstock will be sourced from a 1 million mt/year steam cracker owned by Tianjin Petrochemical Company,a branch of Sinopec.The total investment will be around 1.7 billion,with the complex scheduled to be completed by September 2009.