Recently, a groundbreaking ceremony was held for Fujian Gulei Petrochemical Co., Ltd.’s 1.5 million t/a ethylene and downstream deep processing complex project, which included ground pipe, road construction, drainage, and compaction. These important infrastructures will lay a strong foundation for the full commencement of the Sino-Saudi Gulei Ethylene Project.
The Sino-Saudi Gulei Ethylene Project, with a total investment of RMB42.07 billion, is the largest one-time Sino-foreign joint venture investment in Fujian Province to date. The project is jointly-invested by Saudi Basic Industries Corporation (SABIC), Fujian Energy Petrochemical Group Co., Ltd. and Zhangzhou Jiulongjiang Group Co., Ltd. It will construct a 1.5 million t/a ethylene unit and a downstream deep processing complex unit, both of which are expected to be completed and put into operation by the end of 2026. This project is an important achievement of the Belt and Road Initiative and Saudi Arabia’s Vision 2030, and is of great significance for further consolidating and deepening the friendly cooperation between China and Saudi Arabia.