SABIC eyes growth in Chinese polymers markets: report

Saudi Basic Industries Corp.'s (SABIC) will continue to expand its polymers business in China, driven by growth in the country's piping, building and construction sectors, a senior company executive told S&P Global Platts.

"SABIC has already invested more than $1.8 billion in the Chinese market, including compounding facilities and joint ventures with Chinese companies, and will continue to expand our business in China," said Abdulrahman Al-Fageeh, executive vice president for petrochemicals, SABIC. 

The company plans to continue growing its polyethylene business to enhance its position as the world's top polyethylene supplier, Al-Fageeh added.

In October 2017, SABIC awarded the construction and engineering works contract for its SAR 6.38 billion polycarbonate complex in China to Sinopec Engineering Incorporation and Sinopec Shanghai Engineering Co. Limited. The plant is slated to become operational by 2020.