Saudi Basic Industries Corporation (Sabic) has begun the startup of pre-commissioning activities at a polycarbonate production complex in the Tianjin Binhai New Area of China, said the company in its filing to Saudi bourse Tadawul.
The project was developed by Sinopec Sabic Tianjin Petrochemical Company (SSTPC), a joint venture between leading petrochemical giant Sabic and Chinese energy major Sinopec.
TradeArabia News Service had earlier reported that Sabic will be setting up the industrial complex for the production of polycarbonate in China at a total investment of RMB11 billion ($1.7 billion) in partnership with Sinopec.
Spread over a sprawling 670,000 sq m area, the new complex comes as part of Phase Two of the project and was approved by China’s National Development and Reform Commission (NDRC) on January 13, 2012.
The Phase One project, with annual capacity of one million metric tonnes of ethylene, began production in January 2010.
The financial impact will be reflected after the pre-commissioning activity and the start of commercial operation.-TradeArabia News Service