📋 Tender Overview
Scope of Work:
Construction of SABIC Fujian Petrochemical Complex (Sino-Saudi Gulei Ethylene Complex Project) in Fujian Province, China.
Description:
A joint venture between SABIC and Fujian Energy and Petrochemical Group Co. Ltd. (Fujian Energy Petrochemical) held a groundbreaking ceremony to mark the start of full execution and construction phase of SABIC Fujian Petrochemical Complex (Sino-Saudi Gulei Ethylene Complex Project) in Fujian Province, China. The SABIC Fujian Petrochemical Complex is located in Gulei Petrochemical Industrial Park, which is one of the seven national petrochemical hubs in China. It will be built by SABIC FUJIAN Petrochemicals Co. Ltd, a 51:49 joint venture established in March 2022 between SABIC Industrial Investment Company (wholly owned by SABIC) and Fujian Fuhua Gulei Petrochemical Co., Ltd. (holding by Fujian Energy and Petrochemical Group). SABIC announced its final investment decision for the project in January 2024.
With an estimated total investment of RMB 44.8 billion (USD 6.4 billion), the project marks a significant milestone in cross-regional win-win cooperation for SABIC and Fujian Energy Petrochemical. The project is scheduled to commence the preparation for commissioning and start-up from the second half of 2026, with an expected annual ethylene capacity up to 1.8 million tons, to meet growing demand for high-end chemical products in the market and among customers, while stimulating downstream investment opportunities. In addition to the groundbreaking ceremony, the EPC (Engineering, Procurement and Construction) Contracts and a Project Financing Loan Agreement for the SABIC Fujian Petrochemical Complex were signed as well.
