Sabic eyes fresh expansion in China: Petrochemicals giant Saudi Basic Industries Corp (Sabic) signed a preliminary investment agreement with the government of China’s Fujian province to establish an advanced plastics compounding plant in Fujian, according to a press release. No further information was provided.

Sectors that could benefit: The plant will manufacture products that will be used in industries including electrical and consumer electronics, automotive, and emerging sectors such as solar energy, electrification, and 5G.

What we don’t know: The statement doesn’t provide information on whether this is part of the USD 6.4 bn petrochem complex in Fujian that Sabic announced earlier this year. Sabic said at the time that construction on the project is expected to begin during the first half of 2024, with the commissioning slated for the second half of 2026 and will last for 6 months.

What they said: “The project aims to strengthen our supply capability in compounding products and serve this important strategic market,” said Sabic CEO, Abdulrahman Al-Fageeh.

Other China operations: The petrochemical player operates a technology center in Shanghai and three compounding plants in Guangzhou, Shanghai, and Chongqing, in addition to other operations across 17 cities, the statement reads. The latest investment will develop synergies with two JVs operated by Sabic in China in Fujian and Tianjin.