Titanium Media App reported on July 28 that INEOS and Sinopec signed a series of joint venture and cooperation agreements on July 28, with a total value of about US$7 billion. The three agreements are expected to achieve a combined annual production capacity of 7 million tons and generate annual sales of approximately US$10 billion. INEOS will acquire a 50% stake in Shanghai Secco; INEOS and Sinopec will jointly establish a new joint venture company with a 50%:50% stake, aiming to achieve 1.2 million tons/year ABS production capacity; INEOS and Sinopec will 50%:50% equity ratio to jointly establish a joint venture company to build a 500,000-ton/year high-density polyethylene (HDPE) project in Tianjin.
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