INEOS and SINOPEC have completed two of the four significant petrochemical deals announced last year.
INEOS has acquired 50% of Shanghai SECCO Petrochemical and INEOS and SINOPEC have also established a 50/50 joint venture for acrylonitrile butadiene styrene (ABS) based on INEOS’ proprietary ABS Technology.
The third and fourth deals are expected to be completed this year. INEOS and SINOPEC will establish a third 50/50 joint venture to build a new 500 000 tpy high-density polyethylene (HDPE) plant in Tianjin.
INEOS will also acquire a 50% share in the Tianjin Nangang Ethylene Project, which is currently under construction by SINOPEC and is expected to be on-stream by the end of 2023.
