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Exxon in talks to develop chemical complex in China

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Exxon in talks to develop chemical complex in China

Exxon Mobil Corp. said Sept. 5 that it is in talks with the Guangdong Provincial Government for the proposed construction of a chemical complex that would help meet growing demand in China.

The multibillion-dollar project would include a 1.2 million-ton-per-year ethylene flexible feed steam cracker, two performance polyethylene lines and two differentiated performance polypropylene lines in the Huizhou Dayawan Petrochemical Industrial Park.

Exxon's decision to proceed with the project will be based on the receipt of permits and project competitiveness, the company said. Startup is planned for 2023.

The global oil major is also evaluating other chemicals manufacturing projects in Asia. It expects to grow chemicals manufacturing capacity in the Asia Pacific region and North America by about 40%.

In China, Exxon operates primarily through its Shanghai-based ExxonMobil (China) Investment Co. Ltd. affiliate.