Wanhua Chemical and Petrochemical Industries Company Sign Joint Venture Agreement

Wanhua Chemical has officially signed a joint venture agreement with Petrochemical Industries Company (PIC), under which PIC will invest USD 638 million to acquire a 25% equity stake in Wanhua Chemical (Yantai) Petrochemical Co., Ltd.

The signing ceremony was attended by senior leaders from both organisations, including Zengtai Liao, Chairman of Wanhua Chemical Group, and Shaikh Nawaf Al Sabah, Deputy Chairman and CEO of Kuwait Petroleum Corporation (KPC). The agreement was officially signed by Guangwu Kou, President of Wanhua Chemical Group, and Nadia Al Hajji, CEO of Petrochemical Industries Company (PIC).

This strategic partnership marks a major milestone in the long-standing relationship between Wanhua Chemical and PIC, opening a new chapter of shared growth and innovation. By leveraging their respective industrial strengths and resources, the two companies aim to explore broader areas of collaboration and achieve deeper operational synergy. The alliance is poised to contribute significantly to the advancement of the global petrochemical industry, stimulate economic development, and set a new standard for international cooperation in the sector.

Source : WANHUA