Wanhua Chemical has signed a joint venture agreement with Petrochemical Industries Co. (PIC), a wholly-owned subsidiary of Kuwait Petroleum, in which PIC will acquire a 25% equity interest in Wanhua Chemical (Yantai) Petrochemical Co. for USD 638-million. 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.