The main project of the Zhongsha Gulei Ethylene Project started in full swing
Source: Sinochem New Network 
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February 20, 2024, 10:34 AM
From February 18 to 19, Fujian Zhongsha Petrochemical Co., Ltd. (Fujian Zhongsha), a joint venture between Fujian Energy and Petrochemical Group and Saudi basic Industry Corporation (SABIC), held a comprehensive construction activity and a series of agreement signing ceremony for the main project of the Zhongsha Gourre ethylene project in Fujian.
On the afternoon of February 18, Zhou Zuyi, secretary of the Fujian Provincial CPC Committee, and Zhao long, deputy secretary of the Fujian Provincial CPC Committee and governor, met in Xiamen, Fujian Province. SABIC CEO Abdullah Haman Al-Fadi and his entourage, and jointly witnessed the signing of a series of agreements. Fujian Energy and Petrochemical Group and SABIC have signed relevant documents on deepening sustainable development cooperation. The two sides will further deepen comprehensive cooperation in energy conservation and emission reduction, technology upgrading, product research and development, equipment optimization, and talent exchange to promote the realization of sustainable development goals. The EPC contract award for Zhongsha Goure ethylene project was signed at the same time as the project financing loan agreement.
On the morning of February 19, the Zhongsha Gulei ethylene project held a comprehensive construction activity for the main project in Zhangzhou, Fujian Province. Guo Ningning, member of the standing Committee of the Fujian Provincial CPC Committee and executive vice governor, and Abdullah Haman Al-Fadi, CEO of SABIC, and other leaders announced the full start of the main project of the Zhongsha Goure ethylene project.
Zhou Zuyi, secretary of the Fujian Provincial CPC Committee, said: at present, we are working hard to promote the integrated and refined development of the petrochemical industry and create a first-class business environment for marketization and the rule of law, and China's foreign petrochemical enterprises have great potential and broad space for development in Fujian. It is hoped that the two sides will join hands to promote the landing of more high-quality projects, promote the early commissioning of existing projects and achieve results early, open up a larger international market, speed up the construction of a demonstration zone for industrial cooperation between China and Saudi Arabia (Fujian), and strive to create a benchmark for industrial cooperation and a model for green petrochemical between China and Saudi Arabia. Achieve mutual benefit and constantly enhance friendship.
Abdul Rahman Al-Faki, CEO of SABIC, said that SABIC Fujian Petrochemical complex (Zhongsha Guray Ethylene Project) is another milestone in the development of SABIC in China and marks an important step towards SABIC's goal of becoming an outstanding leader in the global chemical industry. SABIC is always committed to providing customers with a variety of solutions, increasing shareholder value, and actively promoting the upgrading and development of the industry. As one of the core chemical markets in the world, China is a key strategic market for SABIC. In the future, SABIC will continue to increase its investment in China, work hand in hand with local partners, give full play to its core strengths and contribute to China's high-quality and sustainable development.
Zhongsha Gulei Ethylene Project is located in Gu Lei Petrochemical Base, one of China's seven major petrochemical bases, which was built by Fujian Zhongsha in March 2022. Fujian Fuhua Gulei Petrochemical Co., Ltd., which is controlled by Fujian Energy and Petrochemical Group, and Saudi Industrial Investment Company, a wholly-owned subsidiary of SABIC, account for 49% of 51% of shares. The total investment of the project is about 44.8 billion yuan (US $6.4 billion), and the final investment decision of SABIC has been announced in January this year. It is an important node for Fujian Energy and Petrochemical Group and SABIC in promoting win-win cross-regional cooperation. The project is expected to begin in 2026. Completed in 2000, the annual production capacity of ethylene is expected to reach up to 1.8 million tons, not only to meet the needs of the market and customers for high-end chemical products, but also to create more investment opportunities in the lower reaches of the industrial chain. Source: Sinochem New Network
On the afternoon of February 18, Zhou Zuyi, secretary of the Fujian Provincial CPC Committee, and Zhao long, deputy secretary of the Fujian Provincial CPC Committee and governor, met in Xiamen, Fujian Province. SABIC CEO Abdullah Haman Al-Fadi and his entourage, and jointly witnessed the signing of a series of agreements. Fujian Energy and Petrochemical Group and SABIC have signed relevant documents on deepening sustainable development cooperation. The two sides will further deepen comprehensive cooperation in energy conservation and emission reduction, technology upgrading, product research and development, equipment optimization, and talent exchange to promote the realization of sustainable development goals. The EPC contract award for Zhongsha Goure ethylene project was signed at the same time as the project financing loan agreement.
On the morning of February 19, the Zhongsha Gulei ethylene project held a comprehensive construction activity for the main project in Zhangzhou, Fujian Province. Guo Ningning, member of the standing Committee of the Fujian Provincial CPC Committee and executive vice governor, and Abdullah Haman Al-Fadi, CEO of SABIC, and other leaders announced the full start of the main project of the Zhongsha Goure ethylene project.
Zhou Zuyi, secretary of the Fujian Provincial CPC Committee, said: at present, we are working hard to promote the integrated and refined development of the petrochemical industry and create a first-class business environment for marketization and the rule of law, and China's foreign petrochemical enterprises have great potential and broad space for development in Fujian. It is hoped that the two sides will join hands to promote the landing of more high-quality projects, promote the early commissioning of existing projects and achieve results early, open up a larger international market, speed up the construction of a demonstration zone for industrial cooperation between China and Saudi Arabia (Fujian), and strive to create a benchmark for industrial cooperation and a model for green petrochemical between China and Saudi Arabia. Achieve mutual benefit and constantly enhance friendship.
Abdul Rahman Al-Faki, CEO of SABIC, said that SABIC Fujian Petrochemical complex (Zhongsha Guray Ethylene Project) is another milestone in the development of SABIC in China and marks an important step towards SABIC's goal of becoming an outstanding leader in the global chemical industry. SABIC is always committed to providing customers with a variety of solutions, increasing shareholder value, and actively promoting the upgrading and development of the industry. As one of the core chemical markets in the world, China is a key strategic market for SABIC. In the future, SABIC will continue to increase its investment in China, work hand in hand with local partners, give full play to its core strengths and contribute to China's high-quality and sustainable development.
Zhongsha Gulei Ethylene Project is located in Gu Lei Petrochemical Base, one of China's seven major petrochemical bases, which was built by Fujian Zhongsha in March 2022. Fujian Fuhua Gulei Petrochemical Co., Ltd., which is controlled by Fujian Energy and Petrochemical Group, and Saudi Industrial Investment Company, a wholly-owned subsidiary of SABIC, account for 49% of 51% of shares. The total investment of the project is about 44.8 billion yuan (US $6.4 billion), and the final investment decision of SABIC has been announced in January this year. It is an important node for Fujian Energy and Petrochemical Group and SABIC in promoting win-win cross-regional cooperation. The project is expected to begin in 2026. Completed in 2000, the annual production capacity of ethylene is expected to reach up to 1.8 million tons, not only to meet the needs of the market and customers for high-end chemical products, but also to create more investment opportunities in the lower reaches of the industrial chain. Source: Sinochem New Network