Shanghai SECCO Petrochemical Company Limited

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.

INEOS agreed to acquire a 50% stake in Shanghai SECCO Petrochemical Company Limited from SINOPEC, a petrochemical company with 4.2 million tonnes capacity.

Shanghai SECCO Petrochemical Company plans to spend $70 million to add a 120,000-ton-per-year polystyrene unit at its facility in Shanghai, China. Total PS capacity will reach 420,000 tons per year after expansion.