Caixin
Sep 12, 2018 07:43 PM
BUSINESS & TECH

Saudi Arabia’s SABIC Joins Race to Supply China With Plastic

A petroleum chemical plant is seen in Guangzhou, Guangdong province, in September 2017. Photo: VCG
A petroleum chemical plant is seen in Guangzhou, Guangdong province, in September 2017. Photo: VCG

Saudi Basic Industries Corp. (SABIC) has become the third international petrochemicals giant to announce plans to build a major complex in southern China in the last two months as the industry prepares for a boom in China’s demand for plastic.

SABIC has signed an agreement with the Fujian government to build a petrochemical complex in the southeastern Chinese province, according to an announcement on the company’s website. A location and time frame are not yet known.

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