ExxonMobil to invest USD 1.4bn in ethylene project

U.S. energy giant ExxonMobil plans to invest yuan 10bn (about USD 1.4bn) in its Huizhou ethylene project in south China’s Guangdong Province this year.

Addressing the Guangdong Provincial High-quality Development Conference in Shenzhen on Sunday, Jean-Marc Taton, chairman of ExxonMobil China, said ExxonMobil has already invested over yuan 30bn in the first phase of its Huizhou ethylene project.

Taton said that the first phase is expected to be operational by the end of this year after a test run.

Dubbed as one of China’s major foreign investment projects, the ExxonMobil Huizhou ethylene project is located in the Huizhou Daya Bay Petrochemical Industrial Park.

The project, with a total investment of about USD 10bn, will be built in two phases. The first phase mainly consists of a steam cracker and production facilities for high-performance polyethylene and polypropylene.

Previous articleCIP to invest USD 1.92bn in offshore wind project
Next articleMOL, Woodside, HD KSOE and Hyundai Glovis collaborate