عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Saudi Arabia’s SABIC to Build Engineering Thermoplastics Compounding Plant in China

Saudi Arabia’s SABIC signs a potential investment agreement with the Fujian government (SABIC website)
Saudi Arabia’s SABIC signs a potential investment agreement with the Fujian government (SABIC website)
TT
TT

Saudi Arabia’s SABIC to Build Engineering Thermoplastics Compounding Plant in China

Saudi Arabia’s SABIC signs a potential investment agreement with the Fujian government (SABIC website)
Saudi Arabia’s SABIC signs a potential investment agreement with the Fujian government (SABIC website)

Saudi Arabia’s SABIC, a global leader in diversified chemicals, signed a potential investment agreement with the Fujian government to build an engineering thermoplastics compounding plant in China’s Fujian Province.

“The new investment further underscores SABIC’s efforts to meet the unique requirements for differentiated innovative solutions from its local customers in China while strengthening its roots in the Chinese market and its contributions to the high-quality and sustainable development of the chemical industry,” the company said in a statement on Tuesday.

“This investment agreement marks another significant milestone for SABIC’s growth in China and reflects our continued confidence in investing in the country,” SABIC CEO Abdulrahman Al-Fageeh said.

“By creating synergy with upstream and downstream partners, the project aims to strengthen our supply capability in compounding products and serve this important strategic market with innovative and consistently high-quality material solutions,” he added.

The planned compounding plant will be located in the Gulei Port Economic Development Zone, Zhangzhou, Fujian.

It will primarily produce pelletized LEXAN™ Polycarbonate (PC) and CYCOLOY™ PC/ABS blends for use in advanced materials tailored to the needs of industries including electrical and consumer electronics, automotive, and emerging sectors such as solar energy, electrification, and 5G.

In addition to the planned engineering thermoplastics compounding plant, SABIC operates a SABIC Technology Center in Shanghai and three compounding plants in Guangzhou, Shanghai and Chongqing, alongside operations in 17 cities across Greater China.

Most Viewed

 
 
Business

Riyadh, Tokyo Seek to Expand Cooperation in Clean Energy Technology and Green Hydrogen

Construction work at Expo Osaka 2025 exhibition in Japan. Asharq Al-Awsat
Construction work at Expo Osaka 2025 exhibition in Japan. Asharq Al-Awsat
TT
TT

Riyadh, Tokyo Seek to Expand Cooperation in Clean Energy Technology and Green Hydrogen

Construction work at Expo Osaka 2025 exhibition in Japan. Asharq Al-Awsat
Construction work at Expo Osaka 2025 exhibition in Japan. Asharq Al-Awsat

Tokyo has said it was willing to expand cooperation with Riyadh in areas such as new sensitive technologies, clean energy technology, green hydrogen and ammonia production, while working on a plan to increase trade with the Kingdom and deepen research and scientific cooperation.

Several departments in Japan's Ministry of Economy, Trade, and Industry told Asharq Al-Awsat that Japanese-Saudi dialogue on clean energy is ongoing, lauding the signing of a memorandum of understanding (MoU) in clean energy and clean ammonia in 2022, as well as an MoU on carbon recycling between the two countries.

The ministry told Asharq Al-Awsat that the objective is to achieve zero carbon by 2050 in Japan and by 2060 in Saudi Arabia. It said Saudi Arabia has natural resources in solar and wind energy, along with minerals that enable Japan to provide energy efficiency technology and materials, fostering integration between the two countries in the relevant fields.

It also said that Saudi Arabia is Japan's top destination for crude oil imports, accounting for 40%. The Japanese government will continue to cooperate in the energy sector, the ministry added. Additionally, the government is encouraging the private sector and Japanese companies to invest in the Kingdom, and expects to expand bilateral work in areas such as mining, clean energy, green hydrogen, and ammonia.

Professor Gento Mogi, Deputy Director of the Mohammed bin Salman Center for Future Sciences and Technology for Saudi-Japan Vision 2030 (MbSC2030) at the University of Tokyo, told Asharq Al-Awsat that the cooperation supported by the center goes beyond relying on trade, crude oil purchases, and technology products and cars. It includes training and development for human resources, academics, researchers, and scholarship students, with 16 projects involving 15 university professors.

According to Mogi, the University has dedicated part of its cooperation with institutions, centers, and academic institutes outside the university, and in Saudi Arabia, it is implementing a five-year initiative that will end in June 2025, with hopes of extending it for another five years.

Saudi-Japanese trade

The Japan External Trade Organization (JETRO) expects an increase in bilateral trade, indicating that Japan exported products worth $6.359 billion, including cars, technology, and electronics, while it imported from Saudi Arabia goods worth more than $34 billion, with 98% of that being crude oil.

JETRO revealed to Asharq Al-Awsat its plan to increase infrastructure products and establish smart cities to enhance cooperation between the two countries, saying Saudi Arabia's Vision 2030 has opened broad opportunities for collaboration between the countries.

JETRO also said that it is working to meet a rising Saudi demand for Japanese products, as well as an increasing interest in Saudi products. Joint exhibitions between companies in both countries are working to boost trade and demand for Saudi-Japanese products, it added.

The operations department of the Expo Osaka 2025 exhibition confirmed that Saudi Arabia will have a strong participation in the exhibition.