Tianjin(GB)  |  Binhai(GB)  |  TJTV  |  Tianjin Free Trade Zone  | 

About Enorth.com.cn
  |  Chairman & President  |  Web Channels 
Home | News | Photo | Biz Tianjin | Travel in Tianjin | Learn About Tianjin | Talents in Tianjin | Binhai New Area
   

your position :enorth.com.cn > English > News > tianjin  content
Sinopec, Sabic venture gets nod
enorth.com.cn   2009-07-16 17:29

 

Asia's largest oil refiner, Sinopec Corp, and the world's biggest chemicals maker by market value, Saudi Basic Industries Corp (Sabic), received regulatory approval from China to develop a previously agreed-to project into a full-fledged venture in Tianjin.

The $3-billion complex, to be operational in September this year, will have an annual capacity of 3.2 million tons of petrochemicals, including ethylene, the primary building block for petrochemicals, and all other downstream products, Sinopec said on its website.

The target production capacity of this 50-50 joint venture was first set at 4 million tons in June 2008.

The project will give the Middle Eastern chemical giant a solid foothold in the Chinese petrochemicals market as China's demand for plastics and other chemical-based products rises.

"The world's new demand for petrochemicals comes from China, and the project is part of a move by Sabic to diversify from its total dependence on the US market," said Lin Boqiang, an energy expert who was involved in the preparation of the project.

Sinopec sales were $20.78 billion last year.


Editor:
 

Most Popular

Binhai heart to Tianjin's plans
Tianjin Tianlian to get 3b yuan injection
Tianjin: promoting the energy saving level through the optimization of structure and the improvement of awareness
Tianjin High-Tech Developmental Park improves independent innovation capacity
Tianjin builds 20 important service projects
Tianjin-Binhai Light Railway makes a breakthrough in passenger flow
Memory of An Jihe, Engineer of Tianjin Tiantie Group
Tianjin Railway Station Rebuilding Project to be finished in late 2007
Tianjin Petrochemical makes all-out to forge a state-level petrochemical base
Tianjin Binhai to attract foreign investment
Tianjin gives priority to the development of public transport
City card is available in Tianjin now
Tianjin Invests 14 Million yuan, Wuqing 180 Thousand Farmers No Longer Drink Fluoric Water
“General Director” Zhang Lili Wants to Build China’s Biggest Free Trade Zone
Tianjin: “Underwater Express” passing through Xidahu Lake

Editor: Zhang Jialu

Copyright (C) 2000-2008 Enorth.com.cn, Tianjin ENORTH NETNEWS Co.,LTD.All rights reserved