# INEOS and SINOPEC sign joint venture for Tianjin Nangang ethylene project

INEOS and SINOPEC signed a joint venture agreement for the Tianjin Nangang Ethylene Project, with INEOS acquiring a 50% share. The complex includes a 1.2 mtpa cracker and 12 derivative plants, expected on-stream by end of 2023. INEOS Group's equity purchase price is expected to be RMB 5 billion.

- Type: Partnership
- Announced: 2022-12-07
- Where: Tianjin, China
- Value: $700.0M (5.00B CNY)
- Status: announced
- Capacity: 1.2 mtpa ethylene cracker; 300 ktpa ABS; 500 ktpa HDPE
- Products: ethylene, ABS, HDPE
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Sinopec](https://endata.com/companies/1143.md) (partner)
- [INEOS](https://endata.com/companies/9807.md) (partner)

## Sources

- [ineos.com](https://www.ineos.com/investor-relations/news/ineos-and-sinopec-sign-joint-venture-agreement-for-a-brand-new-petrochemicals-complex-in-tianjin-china/), 2022-12-07: "INEOS and SINOPEC have signed a fourth joint venture partnership in China."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.