The Sinopec-SK Wuhan complex is a large-scale integrated refining and petrochemical facility located in Wuhan, Hubei province, China.

Commercial operations commenced in 2013 following the acquisition and integration of Sinopec’s Wuhan refinery and the construction of a major ethylene plant.

The site is operated under Sinopec-SK Wuhan Petrochemical Co., Ltd. and employs around 3,000 personnel, producing approximately 3 million tons of various chemical products annually.

As of September 2025, SK Group announced its intention to divest its entire 35% stake in the Sinopec-SK Wuhan JV. The sale is motivated by a wider strategic pivot at SK, which is now prioritizing sectors such as AI, battery technology, and semiconductors, rather than commodity chemicals where margins have come under pressure due to oversupply.

Negotiations are underway between SK Geo Centric and Sinopec, as well as other Chinese investors, for a transaction valued at around 819 billion won (approximately $594 million), expected to be near book value. This exit signals a significant shift for SK, closing a high-profile chapter in China’s JV petrochemical history.

#sk  #skgeocentric  #sinopec  #jointventure  #wuhan  #china  #petrochemicals  #Refinery