SABIC inks $6bn petrochem complex deal

BEIJING: Aramco’s chemical arm, SABIC, has signed a joint venture contract with China's Fujian Petrochemical Industrial Group (FJPEC) to build a mega petrochemical complex in China, the Xinhua News Agency reported.

The complex will be built at the Gulei Industrial Park in Zhangzhou city, east of China's Fujian Province, at a total investment of 40 billion yuan ($6.18 billion). It will consist of a mixed feed steam cracker that holds an annual ethylene capacity of 1.5 million tons, as well as a series of downstream facilities including a mono ethylene glycol (MEG) unit, two polyethylene (PE) units, two polypropylene (PP) units, one polycarbonate (PC) unit and several by-product units.

SABIC had announced in September 2018 that it had signed a memorandum of understanding (MoU) with the Fujian provincial government to build a world-class petrochemical complex in China's southeastern province.

Green hydrogen has potential to succeed

DUBAI: Green hydrogen (H2) has become a key agenda topic for policymakers and industrial players, driven by global decarbonisation efforts and the commercial opportunities that could follow, a key report says.

Many governments in the Middle East, especially Saudi Arabia and the UAE, are currently exploring opportunities that can be exploited in this field, as green hydrogen helps reduce economic dependence on hydrocarbons and contributes to economic development and diversification of energy supply.

'Strategic alliances are certain to be impactful as countries and industry players work together to realise their shared and mutual green H2 objectives,' says Eddy Ghanem, Principal at ADL Middle East.