INEOS has finalised a 50/50 joint venture with SINOPEC for the Tianjin Nangang Ethylene Project in China.
This was originally announced in December 2022.
SINOPEC is currently constructing the plant, which is expected to be on-stream by next April.
The petrochemical complex includes a 1.2 million tpy cracker, a new 500 000 tpy high-density polyethylene plant to produce INEOS pipe grade under license, and 11 other derivative units.
The completion of the agreement 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.
INEOS and SINOPEC finalise ethylene plant joint venture
