SABIC to strengthen investments in China

Prince Saud bin Abdullah bin Thenayan Al-Saud, Chairman of the Royal Commission for Jubail and Yanbu and Chairman of SABIC, received at the SABIC headquarters in Riyadh on September 15, a high-level Chinese delegation, headed by Mr. Zhang Gaoli, Member of the Political Bureau, Central Committee, Communist Party of China (CPC), and Secretary of the CPC Tianjin Municipal Committee. Prince Saud praised the strong relationship between Saudi Arabia and China as well as the efforts of the leaderships of the two countries to develop these ties at all political, economic and technological levels.

Experts expect the annual demand for petrochemicals in China to grow above 10% over the next 10 years. SABIC has announced its plans to establish a $1 billion advanced polycarbonate technology plant in Tianjin City with an annual capacity of 260,000 tonnes to meet the growing demand for plastics in the country. The project will provide the company with an opportunity to expand in the market for high performance engineering thermoplastics, and meet the growing demand for SABIC advanced polycarbonates in China.

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