SABIC announces FID for the SABIC Fujian Petrochemical Complex
Published by Oliver Kleinschmidt,
Assistant Editor
Tanks and Terminals,
SABIC has announced the final investment decision (FID) for the SABIC Fujian Petrochemical Complex (Sino-Saudi Gulei Ethylene Complex Project) in China’s Fujian province.
SABIC FUJIAN Petrochemicals Co. Ltd, will be a 51:49 joint venture between SABIC Industrial Investment Company (wholly owned by SABIC) and Fujian Fuhua Gulei Petrochemical Co., Ltd. (holding by Fujian Energy and Petrochemical Group) decided to build the Complex in Fujian’s Gulei Industrial Park. With an estimated total investment of RMB 44.8 billion (US$6.4 billion), it is another centrepiece of SABIC’s investment footprint in China and by far the largest foreign investment in Fujian. The complex will consist of a mixed feed steam cracker, with an expected annual ethylene capacity up to 1.8 million t, with a series of downstream facilities, including ethylene glycol (EG), polyethylene (PE), polypropylene (PP), polycarbonate (PC), and several other units. The construction of the project aims to be completed in 2026.
Abdulrahman Al-Fageeh, SABIC CEO said: “The FID is a significant milestone for SABIC’s business expansion and development in China. The project aims to support our goal of diversifying our feedstock sources and establishing a petrochemical manufacturing presence in Asia for a wide range of products, and the FID decision fully reflects SABIC’s commitment to provide solutions to our customers and maximise shareholders value. Building on this, we will continue to capitalise on our partnerships to expand our footprint and continue to contribute to the targets of Saudi’s Vision 2030.
The FID marks the second key milestone related to SABIC’s joint ventures in recent years, following the start of commercial operation for a new polycarbonate plant at the SINOPEC SABIC Tianjin Petrochemical Co. Ltd. (SSTPC) joint venture in 2023. Building on the progress of these joint ventures, SABIC will continue to leverage its technology and innovation to provide more market-facing products for customers while helping to strengthen economic development within petrochemical industry.
Read the article online at: https://www.tanksterminals.com/terminals/24012024/sabic-announces-fid-for-the-sabic-fujian-petrochemical-complex/
You might also like
Hydrocarbon Engineering Podcast
Peter Davidson, CEO of the Tank Storage Association (TSA), joins us to discuss the essential role that the tank storage sector has to play in ensuring supply security and resilience, as well as in facilitating the energy transition.
Woodside awards Worley agreement extension for onshore assets in Western Australia
Worley will provide brownfield engineering and procurement services to the Karratha Gas Plant, King Bay Supply Base, and the Pluto LNG Plant.