Petrochemicals giant Saudi Basic Industries Corporation (SABIC) announced on January 22 that it has made a final investment decision (FID) on the SABIC Fujian Petrochemical complex (ZhongShaqulei Ethylene Project). The project, with an estimated total investment of about 44.8 billion yuan (about 6.4 billion U.S. dollars), is the largest one-time foreign investment project in Fujian Province to date and one of SABIC's core initiatives in China investment.
Located in Gulei Petrochemical Base in Zhangzhou, Fujian Province, one of the country's seven largest petrochemical bases, the Zhongsha Gulei Ethylene Project will build a mixed-feed ethylene steam cracker with an annual ethylene capacity of up to 1.8 million tons, as well as a series of downstream production units, including ethylene glycol, polyethylene, polypropylene, polycarbonate and other production units, which are expected to be completed in 2026. Its products will target the growing demand for high-end chemical products in the fields of electronics and electrical, artificial intelligence, smartphones, communications, medical, automotive and new materials.LET'S GET IN TOUCH
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