SINOPEC & INEOS Establish New Materials Company in TEDA

SINOPEC INEOS Styrolution Advanced Materials (Tianjin) Co., Ltd. was established recently in TEDA Nangang Industrial Zone. The company has a registered capital of 1.68 billion RMB. The business scope includes the manufacture and sale of synthetic materials, chemical products sale, information technology consulting services, consulting and planning services, and the manufacture of engineering plastics and synthetic resins . The company is jointly owned by China Petrochemical Corporation (SINOPEC) and INEOS Styrolution APAC Pte. Ltd.

In August 2023, SINOPEC and INEOS signed a cooperation agreement to establish SINOPEC INEOS (Tianjin) Petrochemical Co., Ltd., with each holding a 50% stake. This joint venture will manage SINOPEC’s ongoing ethylene project of 1.2 million tons per year in Tianjin Nangang. In the same month, INEOS and SINOPEC signed a shareholder agreement to jointly construct an ABS production line with a capacity of 300,000 tons per year in the Tianjin Nangang ethylene project cluster, which is scheduled to start production in April 2025.