ExxonMobil proceeds with China chemical complex investment
ExxonMobil has made a final investment decision to proceed with a multi-billion dollar chemical complex in the Dayawan Petrochemical Industrial Park in Huizhou, Guangdong Province, China. The facility will help meet expected demand growth for performance chemical products in China.
The chemical complex will produce performance polymers used in packaging, automotive, agricultural, and consumer products for hygiene and personal care. As part of ExxonMobil’s ongoing commitment to advancing climate solutions, the site will feature industry-leading technologies to improve energy efficiency.
“Demand for performance polymers will continue to increase in China, and we’re well positioned to meet the needs of that growing market,” said Karen McKee, president of ExxonMobil Chemical Company. “We look forward to progressing this exciting project as we work to build a competitive growth platform in Dayawan.”
The facility supports progress toward China’s national petrochemical development priorities, which include self-sufficiency, diversified feedstock sources and advancing new competitive technology.
Construction is underway on the greenfield project, which includes a flexible feed steam cracker, three performance polyethylene lines, and two differentiated performance polypropylene lines. The steam cracker will have a nameplate capacity of approximately 1.6 million metric tons per year.
Priority is on near-term capital investments on advantaged assets
ExxonMobil is prioritizing near-term capital investments on advantaged assets with the highest potential value and ability to generate attractive shareholder returns. These include chemicals projects to grow high-value performance products by 60% by 2027. Besides the chemical complex in China, ExxonMobil and SABIC’s joint venture in San Patricio County, Texas, U.S.A., Gulf Coast Growth Ventures, is in the process of starting up.
ExxonMobil has operated in China for more than a century. The company’s current business interests include a presence in downstream, chemicals and liquefied natural gas. ExxonMobil is committed to being a good corporate citizen and supports community relations programs wherever it operates.