OREANDA-NEWS. May 24, 2011. China Petroleum & Chemical Corporation (Sinopec Corp.) and Saudi Basic Industries Corporation (SABIC) today announced that they will establish a new polycarbonate production plant with an annual capacity for 260 kilo tons on their existing joint venture-SSTPC, reported the press-centre of Sinopec.

Fully operational since 2010, Tianjin-based SSTPC (a 50:50 JV and established in October, 2009) produces various petrochemical products, including Ethylene, Polyethylene, Ethylene Glycol, Polypropylene, Butadiene, Phenol and Butene-1, among others.

The new polycarbonate production plant will be located in SSTPC and is expected to be operational by 2015. It will leverage SABIC’s world-class advanced polycarbonate technology using phosgene and Dichloromethane free process. The performance properties of purity, transparency and continuous process will bring local PC resin capabilities to a diverse customer base in China.

Polycarbonate is an essential plastic used for producing components for automotive parts, compact discs, and a variety of consumer products as well as other industrial components.

Wang Tianpu, Vice Chairman and President of Sinopec said: “Sinopec’s agreement on polycarbonate collaboration is another fruition of the deep and productive partnership with SABIC. Our partnership with SABIC is a good showcase of the close ties between China and Saudi Arabia. This investment plays a critical role in completing our value chain and enhancing our competitiveness. The project will drive local economic development, satisfy growing demands for polycarbonate in Asia Pacific and bring significant value to Sinopec and Tianjin’s Petrochemical industry.”

Mohammed Al-Mady, SABIC Vice Chairman and CEO, said: “This new and exciting milestone is a strong endorsement of our partnership with Sinopec.  Today’s announcement will strategically position both companies as world-class producers of essential petrochemical supplies to meet increasing global demands for customers in China. Importantly, this agreement has set the stage for further growth in high-performance engineered thermoplastics.”