SABIC would like to announce the final investment decision (FID) which was made today enabling it to move forward with developing a world scale Petrochemical complex located in Fujian in partnership between SABIC Industrial Investment Company (wholly owned by SABIC) with an ownership of 51% of the project and FUJIAN FUHUA GULEI PETROCHEMICAL CO., LTD. with an ownership of 49% of the project.The complex will consist of a mixed feed steam cracker with an expected annual ethylene maximum capacity of up to 1.8 million tons and world-class downstream facilities including Ethylene Glycols (EG), polyethylene (PE), polypropylene (PP), polycarbonate (PC), and several other units using world-leading technologies, where 9 technologies are from SABIC.

The estimated cost of the project is approximately USD 6.4 Billion. The construction of the project is expected to begin during the first half of the year 2024. The preparation for commissioning and start-up will commence from the second half of 2026 and will last for 6 months.

The financial results are expected to be reflected after the commercial production and project completion anticipated to be during the first half of 2027.

This project aims to support SABIC’s aspiration in diversifying the company’s feedstock sources and expanding its manufacturing presence in Asia as a key market for a wide range of products.

It is worth noting that Aramco Trading Company is a related party, which is wholly owned by Saudi Arabian Oil Company (Saudi Aramco) that owns 70% of SABIC through one of its subsidiaries (Aramco Chemicals Company)

SABIC will finance the project through debt in addition to the company's cash flows.