Rongsheng Petrochemical plans technology cooperation with SABIC in advanced materials

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Rongsheng Petrochemical, together with its wholly owned subsidiary Rongsheng New Materials, has signed a project development agreement with SABIC for a new project, aiming to accelerate the construction of the Rongsheng New Materials Jintang New Materials project in Zhoushan. Under the agreement, the two sides are evaluating a potential investment by SABIC to hold a 30 to 50 percent equity stake in Rongsheng New Materials for the purpose of the new project, and will sign a series of supporting agreements including a joint venture agreement, technology licensing agreement, and technical service agreement, to carry out comprehensive cooperation in relevant advanced technology fields. SABIC is a globally renowned diversified chemical company headquartered in Riyadh, Saudi Arabia, with products covering chemicals, general and high-performance plastics, and agri-nutrients. Rongsheng Petrochemical is a globally leading chemical materials company, mainly producing polyester, engineering plastics, polyolefins, rubber, and new energy materials. Market analysts pointed out that this in-depth cooperation in the high-end new materials sector marks Rongsheng Petrochemical's accelerated transformation from a traditional cyclical chemical company into an advanced materials enterprise with long-term growth logic.

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Others · 1 stocks
Rongsheng Petrochemical Co Ltd
002493
▲ PositiveTechnologyrelevance

Rongsheng Petrochemical signs technology cooperation agreement with SABIC for advanced materials project, accelerating transformation to advanced materials enterprise.

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Off-coverage companies 1

SABICPrivate▲ Positive
Technologyrelevance

SABIC evaluates equity stake and technology licensing in Rongsheng New Materials project, expanding its advanced materials portfolio.

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