Combining market-leading energy sector expertise with seamless international coordination, we guided INEOS to the successful launch of three joint ventures alongside SINOPEC in July 2022, expected to generate an annual $10 billion combined turnover in the future, comprised of:

  • INEOS acquiring 50% equity interests in Shanghai SECCO Petrochemical, a subsidiary of SINOPEC with an annual petrochemicals production capacity of 4.2 million tonnes, following INEOS’s successful tender bid on the Shanghai United Asset and Equity Exchange
  • SINOPEC acquiring 50% stake in INEOS Styrolution Advanced Materials, currently constructing a 600,000 tonnes per year ABS plant
  • A 50:50 greenfield joint venture between INEOS and SINOPEC to build a new 500,000 tonnes per year high-density polyethylene (HDPE) plant in Tianjin, with a plan to build at least two additional HDPE plants with similar capacity in the future to produce INEOS pipe grade under license

// We are pleased to have advised our long-standing client, INEOS, on its landmark joint-venture agreements with SINOPEC which will significantly expand INEOS’ footprint in China. The latest round of transactions, not only showcases the Firm’s leading capabilities and track record in the petrochemical industry, but also underlines the Firm’s long standing relationship with INEOS as trusted counsel on their most strategically important transactions //

JUSTIN CHAN, LEAD PARTNER