Wanhua Chemical signs JV with Petrochemical Industries Company
Published by Oliver Kleinschmidt,
Assistant Editor
Hydrocarbon Engineering,
On 25 April, Wanhua Chemical formally signed a joint venture agreement with Petrochemical Industries Company (PIC). Under the terms of the agreement, PIC invested US$638 million to acquire a 25% equity stake in Wanhua Chemical (Yantai) Petrochemical Co., Ltd.
The signing ceremony was witnessed by leaders from both parties, including Zengtai Liao, Chairman of Wanhua Chemical Group, and Shaikh Nawaf Al Sabah, Deputy Chairman and CEO of Kuwait Petroleum Corporation (KPC). The agreement was formally executed by Guangwu Kou, President of Wanhua Chemical Group, and Nadia Al Hajji, CEO of Petrochemical Industries Company (PIC).
This strategic partnership represents a significant milestone in the longstanding collaboration between Wanhua Chemical and PIC, ushering in a new chapter of mutual growth and innovation. The two companies will combine their industrial strengths and resource advantages, unlocking new avenues for cooperation across a wider range of sectors and deeper levels of synergy. This collaboration is expected to elevate global petrochemical industry development while driving economic growth and setting a new benchmark for international cooperation in the sector.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/28042025/wanhua-chemical-signs-jv-with-petrochemical-industries-company/
You might also like
Hydrocarbon Engineering Podcast
Susan Bell, Senior Vice President within Commodity Markets – Oil, Rystad Energy, discusses the impact of trade wars on global oil demand and oil prices, in light of President Trump’s ‘Liberation Day’ tariffs.
MAIRE to cooperate on energy transition initiatives in central Asia
MAIRE and the Ministry of Energy of the Republic of Azerbaijan renewed their cooperation to develop renewable energy and energy transition initiatives in the country.
