Saudi Basic Industries Corp., the world's biggest chemicals maker by market value, is in talks to build a US$1 billion petrochemicals plant in China in partnership with China Petrochemical Corp., Asia's biggest oil refiner. Rising consumption of textiles, auto parts and cellular phones is increasing demand for plastics and petrochemicals, making the Asian country Sabic's biggest market. Sabic is competing with companies including Dow Chemical Co., the biggest U.S. chemical maker, for share in emerging markets such as India and China.
Sabic along with Dalian Shide Group is already working on a US$5 billion petrochemicals project in Dalian. The two companies plan to build plants with capacity to produce 1.3 million metric tpa of ethylene and chemicals.
22-May-06 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}