# INEOS acquires 50% stake in Sinopec's Shanghai Secco petrochemical plant

INEOS will acquire a 50% stake in Shanghai Secco Petrochemical Co., Ltd., a Sinopec subsidiary with 4.2 million tonnes/year capacity. The deal is part of three joint venture agreements totaling $7 billion.

- Type: Acquisition
- Announced: 2023-08-30
- Where: Shanghai Chemical Industry Park, China
- Status: announced
- Capacity: 4.2 million tonnes/year
- Products: ethylene, propylene, polyethylene, polypropylene, styrene, polystyrene, acrylonitrile, butadiene, benzene, toluene
- 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)
- [Sinopec](https://endata.com/companies/1143.md) (target)
- [INEOS](https://endata.com/companies/9807.md) (acquirer)
- [INEOS](https://endata.com/companies/9807.md) (partner)
- [Shanghai SECCO Petrochemical Company Limited](https://endata.com/companies/64385.md) (target)

## Sources

- [51dmapa.com](https://www.51dmapa.com/ineos-and-sinopec-sign-three-major-petrochemical-deals-totaling-7-billion/), 2023-08-31: "INEOS and Sinopec today signed a series of joint venture agreements with a total value of approximately US$7 billion."
- [ineos.com](https://www.ineos.com/news/shared-news/ineos-and-sinopec-sign-second-joint-venture-to-produce-abs-in-china/), 2023-09-06: "This is the second of three new-build ABS plants announced by both companies last year, each to be managed as a joint venture between INEOS Styrolution and SINOPEC."

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