Page 149 - CW E-Magazine (6-2-2024)

News from Abroad

FINAL INVESTMENT DECISION
SABIC moves ahead on $6.4-bn petrochemical

complex in China

Saudi Basic Industries Corpora- company’s feedstock sources and
tion (SABIC) has announced the final expanding its manufacturing presence
investment decision (FID), enabling in Asia as a key market for a wide range
it to move forward with developing of products.
a world-scale petrochemical complex
located in Fujian in partnership bet- Commenting on the development,
ween SABIC Industrial Investment Mr. Abdulrahman Al-Fageeh, SABIC
Company (wholly owned by SAB- CEO said, “The FID is a significant
IC) with an ownership of 51% of the milestone for SABIC’s business ex-
project and Fujian Fuhua Gulei Petro- pansion and development in China.
chemical Co. Ltd. with an ownership where nine technologies are from SABIC. The project aims to support our goal of
of 49% of the project. The estimated cost of the project is diversifying our feedstock sources and
approximately $6.4-bn. establishing a petrochemical manufac-
The SABIC Fujian Petrochemical turing presence in Asia for a wide range
Complex (Sino-Saudi Gulei Ethylene The construction of the project is of products.”
Complex Project) will consist of a expected to begin during the first half
mixed feed steam cracker with an of 2024. The preparation for commis- The FID marks the second key
expected ethylene maximum capacity sioning and start-up will commence milestone related to SABIC’s joint
of up to 1.8-mtpa and downstream faci- from the second half of 2026 and will ventures in recent years, following the
lities including Ethylene Glycols (EG), last for six months. start of commercial operation for a new
polyethylene (PE), polypropylene (PP), PC plant at the Sinopec SABIC Tianjin
polycarbonate (PC), and several other This project aims to support Petrochemical Co. Ltd. (SSTPC) joint
units using world-leading technologies, SABIC’s aspiration in diversifying the venture in 2023.

Ioniqa gets funding support to scale up PET recycling

technology

Ioniqa Technologies, a Dutch plas- growth capital to those
tic recycling firm spun out of the companies that can help
Eindhoven University of Technology (The accelerate the creation of
Netherlands), has announced a signifi- a circular economy for
cant investment by Infinity Recycling plastics, and subsequently
(IRC)’s ‘Circular Plastics Fund’ to help recycled material suitable for food helps them to scale. “With this invest-
accelerate the scale-up and roll out of grade applications. ment by IRC we can further extend
its PET polyester recycling technology. Ioniqa’s horizon with a view to suc-
Ioniqa has successfully demonstra- cessfully launch industrial licenses
Ioniqa’s technology upcycles low- ted this technology in an industrial pro- for new customer plants worldwide.
grade post-consumer plastic waste to duction facility in The Netherlands, and Furthermore, the investment allows
a virgin-like quality feedstock. With is now bringing it to market with strate- Ioniqa to broaden the types of feed-
the ability to process coloured plastic gic licensing partner, Koch Technology stocks it can process by adding poly-
waste flakes Ioniqa’s technology offers Solutions. ester fibres to our scope,” said
a solution to process PET waste that Mr. Tonnis Hooghoudt, Founder and
is currently non-recyclable, creating a Infinity Recycling provides CEO of Ioniqa.

Chemical Weekly February 6, 2024 149

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