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Sabic Signs Agreement with Rongcheng Petrochemical for Strategic Investment in China
SABIC has signed an agreement with China's Rongsheng Petrochemical to develop a project for the production of advanced chemical materials in Zhoushan, Zhejiang Province, with the aim of enhancing production capacity and meeting the growing market demand in China and Asia. The two companies will evaluate the feasibility of a potential investment of up to 50% of the project's capital, which seeks to leverage advanced global technologies and promote competitiveness and sustainable innovation in the petrochemical sector, focusing on creating long-term value and achieving integration of their expertise. This collaboration is part of SABIC's growth strategy and its efforts to expand its global presence. The "Jintong New Material" project is a key step toward strengthening the production of advanced materials and serving global markets.
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