【Haichuan Chemical Salary News】Just invested in Huizhou; ExxonMobil is set to build an ethylene plant in Zhoushan as well

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ExxonMobil to invest $7 billion in an ethylene plant in Zhoushan; EPC Engineering Elite Group, 1019, 11:10. Zhoushan, China, says it is in talks with ExxonMobil to build an ethylene plant worth $7 billion in the city located south of Shanghai. Zhoushan claims that this ethylene plant will have an annual production capacity of 1.5 million to 1.8 million tons, which would be higher than the 1.2 million tons per year capacity of the ethylene plant that ExxonMobil has invested in in southern Huizhou, Guangdong Province. Meanwhile, as the world’s largest consumer of chemical products, China’s petrochemical industry is set to experience massive expansion; at least 13 ethylene complexes are planned to be built in the next five years. This opportunity has allowed large global oil companies to enter the vast chemicals market, supplying plastics, coatings, and adhesives for rapidly growing consumption. Last month, ExxonMobil said it had signed a preliminary agreement to build a petrochemical plant in Huizhou, including an ethylene facility. At the same time, ExxonMobil has also agreed to participate in a provincial project to build an LNG terminal in the city and supply it with LNG, although no specific timeline has been given. ExxonMobil also partners with Sinopec to hold a 25% stake in Fujian Refining & Chemical Corporation. Zhoushan Island is located 145 kilometers (90 miles) south of Shanghai, to the east of Ningbo Port. The local refinery, Zhejiang Petrochemical, is building an integrated refining and chemical processing facility with an annual capacity of 20 million tons. Zhoushan ** stated that it hopes to attract investment in downstream chemical projects, especially in the area of ethylene.