Why did Sinopec-SK Wuhan Petrochemical buy the Wuhan refinery?

Get this report


You can pay by card or invoice

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.

- FAQ's about online orders
- Find out more about subscriptions

10 September 2019

Why did Sinopec-SK Wuhan Petrochemical buy the Wuhan refinery?

Report summary

Sinopec-SK Wuhan Petrochemical, a joint venture between South Korea’s SK Global Chemical and China’s Sinopec has agreed to buy the Wuhan refinery, Hubei province, from Sinopec for W2.2 trillion (US$1.9 billion). Sinopec will pay W352.6 billion (US$ 296 million) while SK Global Chemical will contribute W189.8 billion (US$159 million) reflecting the joint-venture’s 65:35% ownership structure. The remaining W1.66 trillion (US$1.4 billion) will be debt-financed. The joint-venture, established in October 2013, already owns the adjacent 800 ktpa steam cracker and plans to increase the ethylene capacity by 300 ktpa during 2020. This Insight will examine the competitive position of the independent sites and the value added through integration.

Table of contents

  • No table of contents specified

Tables and charts

No table or charts specified

What's included

This report contains:

  • Document

    Wuhan Insight_final_Sept2019.pdf

    PDF 1.41 MB

Trusted by leading organisations