With the Trinidad & Tobago (T&T) cabinet giving the go-ahead, the Ministry of Energy will initiate talks with Saudi Arabia based – SABIC and China based – Sinopec, to set up two petrochemical plants in the country.
One of the plants will be a methanol to petrochemical plant and the other one will be a methanol to olefins complex. The two companies have bid jointly to set up the two plants at an investment of US $5.3 billion.
SABIC and Sinopec currently operate a 50:50 joint venture petrochemical plant in Tianjin – China and these petrochemical plants are part of a initiative to broaden the scope of the business opportunities, together.
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