ExxonMobil to build new petchem complex in China
According to an announcement from Huizhou Municipal People’s Government Office, ExxonMobil representatives signed a strategic cooperation framework agreement and a memorandum of understanding with the Chinese officials on November 1.
Although the exact amount of investment was not disclosed at the time of press, the company is expected to invest billions of dollars in order realize the project.
The new petrochemical complex, which includes a steam cracker and olefin derivative facilities, is planned to be constructed with world-leading technology and the highest safety standards to comply with the government’s environmental and economic requirements.
Daya Bay Petrochemical Development Zone is one of the seven key petrochemical industrial bases in Guangdong, China and also houses CNOOC’s several refineries and plants along with 79 other industrial projects.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Saudi PP, PE markets reverse course in Feb after 8 months, maintenance schedule busy in Mid-East
- Freight carriers aim to manage supply-demand balance by blanking more sailings
- PP and PE markets set to rebound from two-year lows in Europe
- PET sellers hunt for signs of market bottom in Europe
- India’s import PP, PE markets rebound in Jan after several months of declines
- Tight supplies keep Asian PVC markets bullish
- Crude oil market sentiment turns in favour of bulls
- Will European PVC take a breather from 9-month downtrend in February?
- Supply limitations bolster Feb PP and PE outlook in Turkey
- China’s import PP markets climb to 6-month highs prior to Lunar New Year