Polycarbonate is a widely used material
Saudi Basic Industries Corpo- ration (Sabic) and China Petroleum & Chemical Corporation (Sinopec Corp) have announced a memorandum of understanding (MOU) to collaborate on polycarbonate (PC) production in China. This new agreement will add to Sabic’s joint venture with Sinopec, SSTPC (Sinopec Sabic Tianjin Petrochemical Company). A joint investment between both companies will fund a new PC production plant with an annual capacity for 260,000 tonnes. Fully operational since 2010, Tianjin-based SSTPC, equally owned by both parties, produces various petrochemical products including ethylene, polyethylene, ethylene glycol, polypropylene, butadiene, phenol and butene-1. The new PC production plant will be located in SSTPC and is expected to be operational by 2015. It will leverage Sabic’s world-class advanced polycarbonate technology using the phosgene and dichloromethane free process. The performance properties of purity, transparency and continuous processing will bring local PC resin capabilities to a diverse customer base in China. In a statement released on May 17, Mohamed Al Mady, Sabic vice chairman and CEO, said: 'This new and exciting milestone is a strong endorsement of our partnership with Sinopec. Today’s announcement will strategically position both companies as world-class producers of essential petrochemical supplies to meet increasing global demands for customers in China. Importantly, this agreement has set the stage for further growth in high-performance engineered thermoplastics.' Wang Tianpu, vice chairman and CEO of Sinopec, said: 'Sinopec’s agreement on polycarbonate collaboration is another fruition of the deep and productive partnership with Sabic. Our partnership with Sabic is a good showcase of the close trade ties between China and Saudi Arabia. This investment plays a critical role in perfecting our value chain and in enhancing our competitiveness. The project will drive local economic development and satisfy growing demand for polycarbonates in Asia Pacific. It has a significant importance to the Chinese petrochemical industry and local industry in Tianjin.' PC is an essential plastic used for producing components for automotive parts, compact discs and a variety of consumer products as well as other industrial components. Double-digit growth in Asia Today, Sabic in Asia has seen strong double-digit growth, with 41 offices, 10 manufacturing sites and five technology and innovation centres across 13 key Asian markets servicing a portfolio of customers across diverse industries. Sabic ranks among the world’s top petrochemical companies. The company is among the world’s market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilisers. The company recorded a net profit of SR21.5 billion ($5.73 billion) in 2010. Sales revenues for 2010 totalled SR152 billion. Total assets stood at SR 317.6 billion at the end of 2010. Its businesses are grouped into chemicals, polymers, performance chemicals, fertilisers, metals and innovative plastics. Sabic has significant research resources with 18 dedicated technology and innovation facilities in Saudi Arabia, the US, the Netherlands, Spain, Japan, India and China. The company operates in more than 40 countries across the world with 33,000 employees worldwide. Sabic manufactures on a global scale in Saudi Arabia, the Americas, Europe and Asia Pacific. Its overall production has increased from 35 million tonnes in 2001 to 66 million tonnes in 2010.
