Sabic and Fujian to build an Ethylene plant
12 October 2020
Fujian Petrochemical has announced that the world's largest ethylene project to date will be realised together with Saudi Basic Industries Corporation (Sabic). The plant in the Chinese province of Fujian is expected to produce 1.5 million tonnes of ethylene per year.
An investment agreement, in which the city government of nearby Zhangzhou is also involved as a third partner, has just been signed, reports PROCESS (China). The total investment volume of the project amounts to about USD 5.8bn (Chinese Yuan 40bn).
Fujian province, with its wealth of deep-sea ports, has declared the petrochemical industry to be one of the ‘three key industries’ in its economic strategy. The Gulei Petrochemical Park was approved by the central government in Beijing in 2006 and is one of the seven largest petrochemical sites in China.
In June this year, the provincial planning commission took another close look at the park and then approved the next project phase. According to the plans, by 2030 the park will have a refinery capacity of 50 million tonnes per year, ethylene production of five million tonnes per year, and PX production of 5.8 million tonnes per year.