Sinopec-Sabic China JV Begins Commercial Operations

Sabic and Sinopec Corp's joint venture petrochemical complex has begun commercial operations, the Saudi firm said on Tuesday.

The complex, which is 50% owned by Sabic, has a total production capacity of 3 million t/y, it said in an e-mailed statement. State-controlled Sabic, one of the world's biggest chemical firms, said estimated its investment in the complex at about $2.7 billion.

Products will include ethylene, polyethylene, glycol ethylene and polypropylene, the bourse statement said. The complex began pre-production operations at the plant in January. The start of commercial operations at the complex means that the joint venture partners will start to book its revenues and operating costs.