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Cailianshe News, August 7 (Editor Li Lin/Intern Editor Chen Yujia)Saudi Basic Industries Corporation (SABIC) recently announced that it has signed an investment agreement with the Fujian government to build a thermoplastic engineering plastics plant in Fujian.

The new plant will be built in Gulei Port Economic Development Zone, Zhangzhou City, Fujian Province, and will focus on the production of granular polycarbonate and CYCOLOY resin blends to meet the needs of advanced materials in emerging industries such as electrical, consumer electronics, automotive, solar energy, electrification and 5G. These materials will provide innovative and high-quality solutions for various industries with enhanced performance characteristics.

In addition, the new plant is expected to create synergies with SABIC’s two existing joint ventures in China – SABIC Tianjin Petrochemical Co., Ltd. (SSTPC) and SABIC Fujian Petrochemical Co., Ltd. (SFPC) – to jointly provide differentiated products and solutions.

SABIC is headquartered in Riyadh, Saudi Arabia, with operations around the world, and its products cover chemicals, commodities and high-performance plastics, agricultural nutrients and metals. In August this year, the company released a financial report showing that its net profit in the second quarter of 2024 increased by 84% year-on-year to 2.18 billion Saudi riyals (about US$564 million).

In addition to the upcoming engineering thermoplastics plant, SABIC currently operates the SABIC Technology Center in Shanghai and three plants in Guangzhou, Shanghai and Chongqing.

China accounts for more than 40% of global chemical sales and is of great strategic significance to SABIC. The new plant will be equipped with advanced compounding production lines, color development capabilities and high-end equipment to support SABIC in exploring new solutions in the field of engineering plastics.