Saud said: “The new joint venture with Sinopec Corp. will further strengthen the links between our two companies. This will be SABIC's first joint venture in China and we hope this will lead to more joint ventures and a strong relationship with Sinopec in the important China market.” “China is an important market for SABIC's global strategy. This Heads of Agreement is a key milestone towards realizing SABIC's goal of establishing a manufacturing centre in Asia. This facility in Tianjin will serve customers in the world's fastest growing market, and is an important component in SABIC's corporate strategy of being among the world's top petrochemical companies by 2020,” said Mohammad Al-Mady, SABIC Vice Chairman and CEO.
