Recently, SINOPEC and INEOS have signed the shareholder agreement with to form a 50/50 joint venture for Tianjin Nangang Ethylene Project which includes a 1.2 MTA ethylene cracker. The project is currently under construction and expected to be on stream in April 2024. Building on years of collaboration, the sides will leverage respective advantages in market presence, resources, technology, etc. to achieve mutual complementarity and mutually beneficial outcomes, thus driving the growth of the advanced chemicals.