SABIC's Jubail head office
Saudi Basic Industries Corp. (SABIC) announced starting the commercial operations at its equally-owned joint venture industrial complex with China Petroleum & Chemical Corporation (Sinopec) to produce polycarbonate in China.
The complex has an annual production capacity of nearly 260,000 tons.
The financial impact is expected to reflect as of Q1 2023, the company said in a statement.
There is no change in the scope of the project, and therefore, the associated costs have not changed, the statement added.
In April 2012, SABIC laid the foundation stone for the polycarbonate production facility at Sinopec SABIC Tianjin Petrochemical Co.’s petrochemical complex in Tianjin city at the cost of $1.7 billion, Argaam earlier reported.
In October 2017, the Saudi petrochemicals major awarded the construction and engineering works contract to Sinopec Engineering Incorporation and Sinopec Shanghai Engineering Co. Ltd.
The petrochemicals giant announced, in May 2022, launching the trial operations at the complex.
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