In 2024, ExxonMobil will invest an additional US$1.4 billion, reports suggest, into its Huizhou, Guangdong, China, ethylene chemical plant.
An aerial view of a polyethylene plant. (Image: Adobe Stock)
The US-based oil-and-gas corporation made the announcement via ExxonMobil China Chairman Jean-Marc Taton, who spoke at the Guangdong Provincial High-quality Development Conference held February 18, as reported by China-owned media.
The two-phase project started with facility construction in 2020. ExxonMobil announced additional investments in 2021, noting the plant will contain a “flexible feed steam cracker, three performance polyethylene lines, and two differentiated performance polypropylene lines.”
Taton said the first phase should be operational by the end of 2024, the state-run China Internet Information Center reported.
Details on phase two were not available.
To date, ExxonMobil has invested approximately $10 billion into the ethylene site, stated reports.
According to ExxonMobil, the chemical complex will produce performance polymers used in packaging, automotive, agricultural, and consumer products for hygiene and personal care.
“Demand for performance polymers will continue to increase in China, and we’re well positioned to meet the needs of that growing market,” said ExxonMobil Chemical Company President Karen McKee in 2021.
