ExxonMobil outlines Guangdong derivative plans
IHS Markit Chemical Week's latest coverage of ExxonMobil unveils their latest competitive strategies. Get the clearest possible view of your position in relation toExxonMobil with IHS Markit Company Strategies and Performance.
ExxonMobil's proposed complex in Guangdong Province, China, based on a 1.2-million metric tons/year (MMt/y) ethylene flexible feed steam cracker, will include more than 2 million metric tons (MMt) of polyolefins, according to company officials. The complex would produce 1.2 MMt/y of polyethylene (PE) and 860,000 metric tons/year of polypropylene (PP), Jennifer Chan, vice president/major growth ventures at ExxonMobil Chemical Company, told attendees at the China Forum on the final day of the 2019 IHS Markit World Petrochemical Conference (WPC), held last week in San Antonio, Texas. The plant will use ExxonMobil's direct crude steam cracking technology and generate around $4.4 billion in sales annually. The project will generate annual earnings of $700 million/year based on 2017 feedstock and margin economics, according to a recent investor presentation. "The facility would support China's national petrochemical development priorities and closely aligns with the development plans from the Guangdong area," Chan says. ExxonMobil wants to build the world-scale petrochemical complex in the Huizhou Dayawan Petrochemical Industrial Park at Huizhou in Guangdong Province. Start-up is currently planned for 2023, subject to approvals.