News Post
Construction has begun in Huizhou, China for ExxonMobil’s upcoming $10 billion dollar petrochemical complex.
ExxonMobil has very recently broken ground on what it calls a Chemical Major Growth Venture (MGV) as a world class chemical complex in the Guangdong Province’s Huizhou Dayawan Petrochemical Industrial Park. The company plans to spend $10 billion for this venture and will be completed in two phases.
The first phase in the MGV complex will include a 1.6 million ton per year ethylene cracker, along with a 1.2 million ton per year flexible feed steam cracker and downstream polyethylene and polypropylene plants for material needed in packaging, automotive, industrial and consumer usage. Once completed in 2023, construction on phase 2 is anticipated to begin.
This complex will be the first major solely funded chemical project by a U.S. company in China. Planning began in late 2017 which indicates high efficiency from China and its support in this endeavor.
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