# Sinopec and INEOS sign agreements for three high-end chemical projects

Sinopec and INEOS signed agreements on July 28, 2022, for three joint ventures: INEOS acquires 50% of Shanghai SECCO for over RMB 10.5 billion; Sinopec acquires 50% of INEOS Styrolution ABS plant in Ningbo; and a 50:50 JV to build a 500,000 t/y HDPE plant.

- Type: Acquisition
- Announced: 2022-07-28
- Where: Shanghai; Ningbo, Zhejiang, China
- Value: $1.55B (10.5B CNY)
- Status: announced
- Capacity: 500,000 t/y HDPE
- Products: ABS resins, HDPE
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [China Petroleum & Chemical Corporation (Sinopec Group)](https://endata.com/companies/53632.md)
- [INEOS](https://endata.com/companies/9807.md) (partner)
- [Shanghai SECCO Petrochemical Company Limited](https://endata.com/companies/64385.md) (target)
- [INEOS Styrolution APAC Pte Limited](https://endata.com/companies/67580.md) (target)

## Sources

- [kingandwood.com](https://www.kingandwood.com/cn/zh/about-us/media-center/kwm-advises-sinopec-on-its-cooperation-agreements-with-ineos-on-three-high-end-chemical-projects.html), 2022-12-29: "通过此次更为紧密的合资和技术合作，中国石化与英力士将在世界上增长最快的中国市场取得更大的业务规模，实现共赢，并推动高端化学品化工行业发展。"

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