SABIC Invest Polyurethane Industry in China
As the world’s fourth-largest chemical company and the Middle East’s largest non-oil industrial company, Saudi Basic Industries Corporation (SABIC) is the massive Chinese Zhang Tuo – invest $ 100 million to build a new technology center in Shanghai is the latest step in chess. Yesterday, the project groundbreaking ceremony in Shanghai Kangqiao. Li Lei, vice president of Saudi Basic Industries Corporation President and North Asia after the reporter’s interview and said that the future will further increase capacity in China, and is ready to get involved in MDI, TDI fields. Domestic polyurethane, ethylene glycol or challenged.
Saudi Basic Industries (SABIC) has entered into a technology licence deal with Mitsui Chemicals as part of its strategic plan to be a global provider.
‘We are very successful in distribution around the world, and the future will continue to maintain the bulk of upstream petrochemical product advantages, look for more opportunities to create value for customers, such as engineering plastics, specialty chemicals, surfactants, solar energy. ‘According to Li Lei said the Saudi Basic Industries Corporation has even mastered MDI, TDI technology, will soon enter the field of polyurethanes.
Previously, the world’s MDI production is monopolized by BASF, Bayer, Yantai Wanhua (13.40,0.00,0.00%), a few companies.
SABIC Invest Polyurethane Industry in China, Li Lei said the Saudi Basic Industries Corporation polyurethane demand outlook for the future with confidence, construction materials, household appliances, cars will drive demand polyurethane. The company also has plans to invest polyurethane projects in China, and is willing to continue to work with our partners.
As one of the two major global methanol producers, Saudi Basic Industries Corp. layout in terms of methanol industry also affect the eye. In this regard, Li Lei said yesterday, working on domestic coal methanol reconstituted technical route olefins, and in cooperation with the CAS Dalian Institute of Chemical Physics.
‘But we sold China methanol is not much, because China itself is the world’s largest methanol producer. ‘Li Lei said.
Glycol is SABIC another quite competitive products, but also due to the break with ethylene glycol coal technology concern. In this regard, Li Lei said the company is the world’s largest ethylene glycol production enterprises, products are still in short supply. A joint venture with Sinopec in the sand (Tianjin) Petrochemical projects include ethylene glycol production capacity, capacity may be further increased with the expansion projects in the future.
‘As for the coal-to-MEG is still in its early stages, there is still a cost reduction process. And natural gas as raw material is still currently the most competitive routes. ‘Li Lei said.
Mergers and acquisitions in China will seize the opportunity
When talking about the impact of international oil prices on the petrochemical market this year, he said that the current international oil price has not completely determined by supply and demand, which is beyond the ups and downs of the economy, and influenced by geopolitics, speculation and other factors, ‘These are our We can not control. For the company, market volatility rise and fall, the short-term fluctuations in oil, naphtha-based products will be affected, but this is only part of our products. ‘
‘We remain very optimistic about the downstream demand. With the improvement of China’s economic development and people’s living standards, demand for cars, housing, communications, medical, and other growing rapidly. We therefore short-term ups and downs of oil prices do not care. ‘Li Lei said.
When asked whether acquisitions in China, he said, over the past 30 years, Saudi Basic Industries Corporation’s five employees from the initial development to the present large petrochemical company largely relies on effective, selective mergers and acquisitions, so the future will still pay close attention to opportunities in this regard.
SABIC Invest Polyurethane Industry Saudi Basic Industries Corporation is the production of polyethylene, polypropylene, advanced thermoplastics, glycols, methanol and fertilizers leader. Saudi Arabian Government owns 70 percent stake in the company.