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INEOS and SINOPEC Complete Major Petrochemicals Deal in China

8/2/2023

INEOS - Press Release

INEOS has today completed the formation of a 50/50 joint venture with SINOPEC for the Tianjin
Nangang Ethylene Project, announced in December 2022, which is currently under construction by
SINOPEC and expected to be on-stream by April 2024.

The petrochemical complex includes a 1.2 mtpa cracker, a new 500ktpa High-Density Polyethylene
plant to produce INEOS pipe grade under license and 11 other derivative units.

The completion of the agreement today marks the continued progression of the significant
petrochemical deals announced by the parties in July and December last year, and highlights the
close relationship and growing collaboration between SINOPEC and INEOS.