World's biggest chemicals producer to set up thermoplastics plant in Chongqing
A unit of Saudi Basic Industries Corporation (SABIC), the world's largest chemicals producer, has announced plans to establish an engineering thermoplastics plant in China.
SABIC's Innovative Plastics business has signed an agreement with Chongqing Xiyong Micro-electronics Industrial Park, and the Chongqing Economic and Informatisation Commission, it said in a statement.
The move supports the Chinese government's plan to expand into the country's western region and reinforces SABIC's commitment to build on its overseas interests.
The Chongqing plan is SABIC's third Chinese engineering thermoplastics investment this year.
Earlier announcements include an agreement with Sinopec to collaborate on polycarbonate production in China.
The Saudi giant is also investing in new production lines for SABIC's Lexan polycarbonate resins and films in both Shanghai and Nansha in 2012.
Charlie Crew, executive vice president, SABIC and head of SABIC's Innovative Plastics business, said: "We are in China, for China. In the more than 30 years we've operated in this region, we've cultivated long-term customer relationships that have helped make SABIC the first supplier many of the world's leading OEMs call when designing their customers' innovations."
The new compounding plant, which is expected to be online in 2013, will produce several of SABIC's polycarbonate, polycarbonate blends and other engineering thermoplastics for southwest China customers.
SABIC in Asia has 41 offices, nine manufacturing sites and five technology and innovation centres across 12 key Asian countries.