US oil and gas company ExxonMobil on Wednesday broke ground on its $10-billion petrochemical project in Huizhou, Guangdong Province, China. As SSESSMENTS.COM noted, the complex will be built in two phases. The first phase will include 1.6 million tons/year ethylene cracker and downstream production units. The first phase is expected to be completed by 2023, followed by the construction of the second phase in the same year.
This complex will be the first major petrochemical project in China which is wholly-owned by a US company. Chinese Vice Premier Han Zheng reportedly attended the groundbreaking ceremony which was held online on Wednesday. Ma Xingrui, governor of Guangdong, said the provincial government would do whatever it can to make sure the complex enters service by 2023.
