Fujian Petrochemical Co. Ltd. (FPCL), Sinopec and Aramco have formed a joint venture, Fujian Aramco Re-fining and Petrochemical Co., to develop a large-scale integrated refining and petrochemical complex in Fu-jian Province, China. The project, first announced last November, will in-clude a 16-mta crude oil refining unit, a 1.5-mta ethylene facility, paraxylene and down-stream derivatives capacity of 2-mta, and a 300 kta crude oil terminal. Operations are expected to begin by the end of 2030. FPCL, a 50-50 partnership between Sinopec and Fu-jian Petrochemical Industrial Group, holds an equity interest of 50% in the new joint venture, with Sinopec and Aramco each holding 25% stakes. This project represents further progress in Aramco’s strategic downstream expansion, which aims to capture additional value through both portfolio diversification and business integration.