LARGEST EXHIBITOR IN CHEMICALS AND RAW MATERIALS ZONE AT CHINAPLAS 2009
(Guangzhou, People’s Republic of China) The Saudi Basic Industries Corporation (SABIC) has further re-affirmed its commitment to the China market through a large presence at Chinaplas 2009, the most important plastics trade show in Asia.
SABIC is the largest exhibitor in the Chemicals and Raw Materials Zone (Hall 10.2, F41) at Chinaplas 2009, which is being held in Guangzhou, China from 18th to 21st May. SABIC was also the largest exhibitor at the show last year, which attracted more than 72,000 visitors.
“China is the most important market for SABIC and we plan to continue growing our business in this market, in line with our SABIC 2020 vision of being among the world’s top five petrochemical companies by 2020. Our expansions in China is a sign of the confidence that SABIC places in the economic opportunities in China,” said Mr Mohamed Al-Mady, Vice-Chairman and CEO, SABIC.
At Chinaplas 2009, SABIC officially launched its marketing of Saudi Aramco’s 25 percent share of polyolefin products, produced by the Fujian Refining and Petrochemicals Company (FREP) in China that is scheduled to come on stream by July 2009. FREP’s products will include 400,000 metric tons of linear low density polyethylene (LLDPE), 400,000 metric tons of high density polyethylene (HDPE) and 520,000 metric tons of polypropylene (PP) annually.
SABIC also conducted a technical seminar on “FREP: the PE/PP grades, properties” for invited customers on 19th May at the exhibition center. On the same evening, SABIC hosted a reception for 200 customers.
“We are further strengthening our leadership position in China with ambitious plans for this market. Furthermore, we are now in the final stages of negotiations with Sinopec toward forming a joint venture company,” said Mr. Khaled Al-Mana, Vice President, Polymers.
Last year, SABIC and Sinopec signed a strategic cooperation agreement to expand the scope of partnership at the Tianjin Industrial Complex, currently under construction in China, which has an overall production capacity about four million tons of different petrochemical products.
ENDS