SABIC, Fujian Sign Agreement to Establish Engineering Thermoplastics Compounding Plant
Saudi Basic Industries Corp (SABIC) has signed a potential investment agreement with the Fujian government on August 1, to build an engineering thermoplastics compounding plant in China’s Fujian Province, reported the Saudi Press Agency (SPA).
Official Ceremony
Under the auspicious of Saudi Arabia’s Ministry of Energy, the official signing ceremony took place at the ministry’s headquarters in Riyadh and highlighted the presence of Zhou Zuyi, Party Secretary, Fujian Province; Ahmed Al-Zahrani, Assistant Minister for Development and Excellence Sector, Ministry of Energy; and Abdulrahman Al-Fageeh, SABIC CEO.
The agreement was officially signed by Sami Al-Osaimi, SABIC Executive Vice President, Polymers, and Ma Changjian, Deputy Director, Fujian Zhangzhou Gulei Port Economic Development Zone Administration Committee.
Promising Deal
The new deal stands as a testament to SABIC’s commitment to master the necessary requirements for innovative solutions and provide its local customers in China with the best practices worldwide.
Furthermore, it boosts SABIC’s presence in the Chinese market and fosters the sustainable development of the chemical industry.
“This investment agreement marks another significant milestone for SABIC’s growth in China and reflects our continued confidence in investing in the country. By creating synergy with upstream and downstream partners, the project aims to strengthen our supply capability in compounding products and serve this important strategic market with innovative and consistently high-quality material solutions,” Abdulrahman Al-Fageeh, SABIC CEO said.
The Compounding Plant
Located in the Gulei Port Economic Development Zone, Zhangzhou, Fujian, the planned compounding plant will basically produce pelletized LEXAN™ Polycarbonate (PC) and CYCOLOY™ PC/ABS blends. These materials will be used in other advanced materials tailored to the needs of industries including electrical and consumer electronics, automotive, and emerging sectors such as solar energy, electrification, and 5G.
Furthermore, the plant will include compounding lines, color development capabilities, and advanced equipment that will empower SABIC to create new innovative solutions for engineering plastics in collaboration with its customers and partners.
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