Work on the Saudi Basic Industries Corporation’s (SABIC) Fujian complex in China is 98 percent complete, the company said in its first-quarter 2026 financial results statement.

“The execution of the Fujian project continues as planned,” the company said.

The $6.4 billion project includes 16 production units with a 1.8 million-tonne mixed-feed steam cracker.

Construction of the complex commenced in February 2024 and is expected to be completed in 2026. 

The complex will generate an annual production value of 30 billion renminbi ($4.3 billion) in operations and over RMB 100 billion in upstream and downstream investments.

In Saudi Arabia, the Ministry of Energy’s feedstock allocation approval will enable  SABIC to potentially expand its annual urea production capacity from nearly 4.8 million tonnes to 7.4 million tonnes, an increase of 54 percent, the company said..

SABIC, majority owned by Saudi Aramco, maintained its 2026 expenditure guidance at $3 to $3.5 billion, the statement said.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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