Ineos announced it has signed three agreements with Sinopec for significant petrochemical deals in China with an aggregate value of USD 7 billion. Under the first agreement, Ineos will acquire a 50% stake in Shanghai Secco, a subsidiary of Sinopec. Located in the Shanghai Chemical Industry Park, Secco currently has a production capacity of 4.2 mta of petrochemicals, including ethylene, propylene, PE, PP, styrene, PS, AN, butadiene, benzene and toluene. In the second agreement, Ineos and Sinopec will establish a 50-50 joint venture for ABS production. This will include the 600 kta facility under construction by Ineos Styrolution in Ningbo. The ABS joint venture is also expected to build two new 300 kta ABS plants. The final agreement between Ineos and Sinopec will see the parties establishing a 50-50 joint venture to build a new 500 kta HDPE plant in Tianjin.