International lenders did not disclose specificities, but said it was part of global cost-cutting plansNovember 26, 2015 11:32
China polycarbonate plant with Sinopec
The world's largest chemicals producer, based in Saudi, is opening a facility in Guanghzou, China.
May 17, 2011 10:24 by Reuters
Saudi Basic Industries Corp (SABIC) , the world’s largest chemicals producer by market value, said on Tuesday that it is planning a facility with China Petroleum & Chemical Corp (Sinopec) with an annual capacity of 260,000 tonnes.
Chief Executive Mohammed Al-Mady also said during a news conference in the southern Chinese city of Guangzhou that SABIC planned to build a new technology centre in Shanghai with a staff of 550.
SABIC, 70 percent owned by the government of Saudi Arabia, makes chemicals, fertilisers, plastics and metals used in paint, rubber, textiles, leather, cleaning products, glass, food and other consumer industries.
Expanding its presence in China, the world’s second-largest economy, SABIC has about 13 offices, four manufacturing sites and a technology center in Greater China. (Reporting by Alison Leung; Editing by Chris Lewis)