Exxon Mobil embarks on $10 bil. chemical complex project in southern China
TOKYO, NNA –Exxon Mobil Corp. has embarked on a $10 billion downstream chemical complex project in the southern Chinese coastal city of Huizhou, Xinhua News Agency reported Wednesday.
The global oil giant‘s solely funded project is divided into two phases, with the first phase being the building of an ethylene plant with 1.6 million tons annual capacity in the Huizhou Dayawan Petrochemical Industrial Park for scheduled completion by 2023, the report said.
The U.S. oil company signed a preliminary deal with the Guangdong provincial government in September 2018 to build the complex, including polyethylene and polypropylene production lines, to meet chemical product demand for the fast-growing consumer electronics and automotive sectors in China, according to Reuters.
In Asia, Exxon Mobil runs chemical complexes with refineries in the southern Chinese province of Fujian, Sriracha in Thailand and Singapore, according to the company.