We use cookies
To help provide you with a good experience on our website. By continuing to browse the website, you are agreeing to our use of cookies.

China approves INEOS acquisition of Shanghai SECCO

DOWNSTREAM CENTRAL ASIA AND CASPIAN

China approves INEOS acquisition of Shanghai SECCO

China’s State Administration for Market Regulation has approved unconditionally the acquisition deal of Shanghai SECCO Petrochemical between Sinopec and INEOS, said Reuters. - MRChub

Sinopec and INEOS in July this year announced the transaction, under which INEOS will take over 50% of SECCO from Sinopec.

After the deal, SECCO will have four shareholders, which are INEOS (50%), Sinopec Gaoqiao Petrochemical (15%), Sinopec (15%) and Sinopec Shanghai Petrochemical (20%).

SECCO produces around 3.2 m tonnes of petrochemicals each year, including olefins, polyolefins, styrene and aromatics, according to its website information.

We remind, INEOS Europe AG and Pacific Gas (Hong Kong) Holdings Co., Ltd, have signed long-term time charter agreements for four 99,000 cbm (cubic metre) VLECs (Very Large Ethane Carriers). The deal will bring INEOS’ ethane fleet to 16 vessels, with eight VLEC and eight Dragon class ethane carriers. With these agreements, INEOS will have a total of six VLECs under time charter with Pacific Gas.

Relevant news

DOWNSTREAM CENTRAL ASIA AND CASPIAN
China's Sinopec agrees terms for potential Kazakhstan polyethylene investment
Sinopec and KazMunayGaz have agreed key terms for a potential investment in a polyethylene plant in Kazakhstan.
DOWNSTREAM CENTRAL ASIA AND CASPIAN
INEOS secures $3.7 B in financing for Project One: The greenest cracker in Europe
INEOS Olefins Belgium will invest of the most environmentally sustainable cracker in Europe.
GO CIRCULAR
Ineos, Plastic Energy plan German facility
Ineos and Plastic Energy will partner to produce a projected 100,000 metric tons of recycled-content resins.
GO CIRCULAR
Ineos to upgrade polyolefins plant in Belgium
Investment of 30 million euros will help lower its customers’ carbon footprint.
GO CIRCULAR
Ineos, Coexpan roll out recycled-content yogurt packaging
Ineos and Coexpan achieve food-contact status for mechanically recycled-content PS plastic.
GO CIRCULAR
Ineos effort results in recycled-content ABS
Germany-based Ineos Styrolution now offers two mechanically recycled-content ABS grades.