Home    Company News    $1.5 billion! China is again invested heavily by international chemical giants!

$1.5 billion! China is again invested heavily by international chemical giants!

Hits: 927 img

With the deepening of China's opening to the outside world, the continuous optimization of business environment and the continuous expansion of market demand, BASF, Dow, ExxonMobil and other international chemical giants have come to China to build their own factories.


The Chinese market seems to have boundless imagination space forever. At the beginning of the new year, Ineos, a global chemical giant, signed an agreement to invest US $1.5 billion in China.


On the afternoon of January 9, Ningbo and Ineos Group signed a strategic cooperation framework agreement. Ineos group will invest about 1.5 billion US dollars in Ningbo Petrochemical Economic and Technological Development Zone for the first time and build a chemical material production line project with international leading level.


Ineos group is a world-famous large-scale chemical and energy company. Its business covers oil exploration, oil refining, petrochemical production and other fields. Its production and market share of synthetic hydrocarbon rank the top three in the world.


Ineos revolution, a subsidiary of Ineos group, announced plans to build a world-class ABS production base in Ningbo, China. The new production base will be built near the polystyrene plant that Ineos benzeling recently acquired in Ningbo.


The new production base will be built near the polystyrene plant that Ineos benzeling recently acquired in Ningbo. Its annual production capacity is planned to be 600000 tons. Construction is expected to start in 2020 and complete in 2023.


On August 31, 2018, Ineos benzeling announced the acquisition of two polystyrene plants of total in Foshan, Guangdong and Ningbo, Zhejiang, and announced the completion of the acquisition on February 20, 2019. Each of the two plants has an annual capacity of 200000 tons.


Less than a year after announcing the acquisition of two polystyrene production bases in China, Ineos benzeling has begun plans to expand production capacity in China.


"China is the largest ABS market in the world," said Steve Harrington, President of Asia Pacific. This new investment provides a huge opportunity for the company's further development, enabling us to provide locally produced ABS products to customers in the region. "


Kevin Mcquade, chief executive of Ineos, added: "we have always considered Asia to be an important growth market. Today's announcement also shows our determination to triple shift growth strategy. As the world's leading supplier of styrene series products, we are always committed to promoting the growth of Chinese customers through new localized production. "


Ineos is a global supplier of styrene series products, focusing on styrene monomer, polystyrene, ABS general materials and styrene special materials. In 2018, the company's sales reached 5.4 billion euros. The company has about 3500 employees and 20 production bases in 10 countries.

Online QQ Service, Click here

QQ Service

Wechat Service