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SABIC’s $6.4 Billion Dollar Petrochemical Plant in China Gets Go Ahead for Construction

1/22/2024

Saudi Basic Industries Corp (SABIC) announced in a recent company exchange filing that it will proceed with building a new petrochemical complex in southeastern China's Fujian province. This $6.4 billion dollar project will be developed as a joint venture of SABIC and China state owned Fujian Fuhua Gulei Petrochemical Company.

This complex is envisioned to produce 1.8 million metric tons of ethylene per year and will have further additional downstream facilities such as ethylene glycol, polyethylene, polypropylene, and polycarbonate production. Construction is expected to begin in the first quarter of this year, with completion expected in early 2027.