As of 11 October 2019, the China National Chemical Engineering Group (CNCEC) and Baltic Chemical Complex, a subsidiary of RusGasDobycha have signed an agreement to build worlds largest petrochemical plant at the port of Ust-Luga near the Gulf of Finland valued at around INR 942 billion. CNCEC will be handling the role of general contractor for this scheme. The CNCEC chairman has quoted this deal as the biggest ethylene integration project in the world, the biggest single contract in the petrochemical industry and the biggest contract signed by a Chinese enterprise. The new plant will have two sets of ethylene crackers with annual capacity of 1.4 million tonnes, two linear alpha olefin facilities – used in the production of polyethylene – with an annual capacity of 137 KT and six polyethylene trains with an annual capacity of 48 KT.
