- JEDDAH: Saudi Basic Industries Corp (SABIC) and Sinopec Corp's joint venture petrochemical complex has begun commercial operations, the Saudi firm said on Tuesday.
The complex, which is 50 percent owned by SABIC, has a total production capacity of 3 million tons per year, it said in an e-mailed statement. SABIC, one of the world's biggest chemical firms, said estimated its investment in the complex at about $2.7 billion.
Products will include ethylene, polyethylene, glycol ethylene and polypropylene, the statement said. The complex began pre-production operations at the plant in January. The start of commercial operations at the complex means that the joint venture partners will start to book its revenues and operating costs.

