On the 30th August, INEOS and SINOPEC signed a shareholder agreement for the formation of a 50:50 joint venture to build a new 300ktpa ABS plant in Tianjin. The plant, which is currently under construction by SINOPEC, will be based on INEOS’ world-leading Terluran® ABS technology and is planned to come on stream in April 2025.
This is the second of three new-build ABS plants announced by both companies last year, each to be managed as a joint venture between INEOS Styrolution and SINOPEC. The first was the 600ktpa facility in Ningbo, which is planned to come on stream by the end of this year. The location of the third ABS plant is yet to be decided.
This announcement marks the continued progression of the significant petrochemical deals announced by the parties in July and December last year, and highlights the close relationship and growing collaboration between SINOPEC and INEOS.
ENDS
Media Contacts
Richard Longden (Richard.longden@ineos.com) +41 7996 26123Andrew McLachlan (andrew@mediazoo.tv) +44 7931 377162Alex Williams (alex.williams@mediazoo.tv) +44 7793 207325
Previous announcements from INEOS and SINOPEC include:
INEOS and SINOPEC sign Joint Venture agreement for a brand new petrochemicals complex in Tianjin, China. Wednesday, December 7, 2022
INEOS and SINOPEC sign three significant petrochemical deals with an aggregate value of $7bn Thursday, July 28, 2022