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Saudi Basic Industries Corp (Sabic) and Sinopec have continued their 50-50 joint venture project in Tianjin, China, by beginning construction work on a US$1.7bn polycarbonate plant
The move follows the successful first phase ethylene production project, which has been created to produce one million tonnes per annum.
"We have accomplished a part of future plans for the complex,” Sabic chairman and chief executive, Mohamed Al-Mady, was quoted as saying by Arab News.
“Construction work has started at the $1.7bn polycarbonate plant with a capacity of 260,000 tonnes a year.
“This project, expected to be completed by 2015, represents the second phase of our expansion.
“This is not the end of our future plans. We are seeking new projects to enhance the competitive position of the company, especially in China."