On February 18th, Sabic Fujian Petrochemical Co., Ltd. held a signing ceremony for Fujian Gulei Ethylene Project series agreement in Fujian. Hualu Company, as the representative of the main process units contractor, was invited to attend the meeting and sign the EPC contract for polypropylene unit.

Fujian Provincial Party Secretary Zhou Zuyi, Deputy Fujian Provincial Party Secretary and Governor Zhao Long, and SABIC CEO Abdulrahman Al-Fageeh witnessed the signing of the contract. Chairman Wang Hai and Vice President Yuan Na of Hualu company attended the signing ceremony.

The polypropylene project mainly includes a 400KTA polypropylene (impact resistant/random) plant and a 550KTA polypropylene (homopolymer/random) plant. For many years, Hualu Company has been committed to deeply cultivating the relevant product field and has rich experience in engineering design and project construction. The successful signing of this project has further consolidated the company's competitive advantage in this product field, and also provided a solid platform for the company to comprehensively accelerate the pace of international development, better integrate into and serve the country's major development strategies, and actively participate in the high-quality co-construction of the "the Belt and Road" initiative.

On February 19th, the Groundbreaking Ceremony for Sabic Fujian Petrochemical Complex Project was held in Zhangzhou, Fujian, marking the entry of the project into the substantive construction phase.

Sabic Fujian Petrochemical Complex Project is located in Gulei Petrochemical Base, one of the seven major petrochemical bases in China. It is jointly constructed by Fujian Energy Petrochemical Group Co., Ltd. and the world petrochemical giant Saudi Basic Industry Corporation (SABIC), with a total investment of approximately 44.8 billion RMB (approximately 6.4 billion US dollars). It is the largest Sino foreign joint venture project in Fujian Province and a key project for China Saudi Arabia's production capacity and investment cooperation The third batch of national major foreign investment special class projects is an important practical achievement to promote the connection between the high-quality "the Belt and Road" initiative and Saudi Arabia's "Vision 2030". The project is expected to be completed in 2026, with an annual ethylene production capacity of up to 1.8 million tons. It has a positive promoting effect on meeting the market and customer demand for high-end chemical products, as well as driving the development of the industrial chain.