ABS Production in Tianjin: INEOS and SINOPEC’s New Joint Venture Takes Shape

ABS Production in Tianjin: INEOS and SINOPEC’s New Joint Venture Takes Shape

(IN BRIEF) INEOS and SINOPEC have signed a shareholder agreement to establish a 50:50 joint venture for the construction of a new ABS (Acrylonitrile Butadiene Styrene) plant in Tianjin, China. The plant, utilizing INEOS’ Terluran® ABS technology, will have a production capacity of 300,000 tons per annum and is expected to begin operations in April 2025. This venture follows the announcement of three ABS plant projects by the companies, with one already under construction in Ningbo. The third plant’s location is yet to be determined. This partnership marks the continued growth of petrochemical collaborations between INEOS and SINOPEC, showcasing their close relationship in the industry.

(PRESS RELEASE) LONDON, 6-Sep-2023 — /EuropaWire/ — INEOS, a global leader in chemical manufacturing, and SINOPEC, one of the world’s leading energy and chemical companies, have solidified their partnership by signing a pivotal shareholder agreement on August 30th. The agreement sets the stage for the creation of a 50:50 joint venture aimed at constructing a cutting-edge ABS (Acrylonitrile Butadiene Styrene) plant with a production capacity of 300,000 tons per annum (ktpa) in Tianjin, China. The plant, currently under construction by SINOPEC, will leverage INEOS’ renowned Terluran® ABS technology and is scheduled to commence production in April 2025.

This collaborative effort represents the second of three new ABS plants announced by both companies in the previous year, all of which will be operated as joint ventures under the leadership of INEOS Styrolution and SINOPEC. The first of these facilities, boasting a production capacity of 600 ktpa, is set to be operational in Ningbo by the end of this year. The precise location for the third ABS plant is yet to be determined.

This milestone announcement underscores the ongoing development of significant petrochemical agreements unveiled by the two entities in July and December of the previous year. It further emphasizes the robust relationship and expanding collaboration between SINOPEC and INEOS in the global chemical industry.

ENDS

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SOURCE: INEOS