Aramco to Acquire Major Stake in China's Petrochemical Giant Hengli

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Researched by Industrial Info Resources (Sugar Land, Texas)--Saudi Aramco (Dhahran, Saudi Arabia) recently signed a memorandum of understanding (MOU) to acquire a 10% share stake in Chinese petrochemical major Hengli Petrochemical from its parent Hengli Group (Suzhou, China).

Hengli Petrochemical is one of China's four largest private refining and petrochemicals majors, with 20 million tons of annual crude processing capacity. It produces 1.5 million tons per year of ethylene, 5.2 million tons per year of paraxylene and 850,000 tons per year of acetic acid.

Industrial Info is tracking 29 active chemical-processing projects, valued at more than US$7 billion, across China. Among these, 26 projects are in the Liaoning province and three in Guangdong province. Subscribers to Industrial Info's Global Market Intelligence (GMI) Chemical Processing Project and Plant databases can click here for a list of detailed project reports and click here for a list of related plant profiles.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).