Sinopec, SABIC found JV in N China

Sinopec and Saudi Basic Industry Corporation (SABIC) hold a ceremony marking the formation of a JV based in north China's Tianjin on Nov. 3.

SABIC is one of the five leading chemical industry companies in the world. Wang Tianpu, the chairman of Sinopec said, SABIC’s investment in China showed their confidence in the domestic market, especially during the economic crisis and global financial downturn. This project will help improve chemical production lines, bring new blood to the domestic chemical industry and stimulate the economy in Tianjin and Binhai New Area as well.

By People's Daily Online