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.
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