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Ineos and Sinopec sign joint venture for new petrochemicals complex in China 

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Picture of Meenal Datar

Meenal Datar

Membership specialist

Ineos and Sinopec have announced a new joint venture agreement that will see Ineos acquire a 50% share in the existing Tianjin Nangang Ethylene Project from Sinopec. The project is currently building a 1.2 million tonne ethane cracker, expected to come on stream at the end of 2023, and downstream derivative plants in Tianjin, China. 

A full suite of derivative units will be built at the complex, including the 300ktpa ABS (Acrylonitrile Butadiene Styrene) plant in the 500ktpa HDPE (high-density polyethylene) plant announced by Ineos and Sinopec in July. 

The joint venture agreement was signed during a virtual meeting and the hope is that the partnership will see Sinopec benefit from Ineos’ technological knowledge and operational expertise, and Ineos achieve a substantial presence in China, the fastest-growing market in the world. 

This is the fourth venture between Ineos and Sinopec signed in 2022. Two are petrochemical complexes and two are product joint ventures, each of a similar scale. 

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