Xinhua, February 16, 2023
http://www.china.org.cn/business/2023-02/16/content_85109774.htm?f=pad&a=true
ExxonMobil's mega-investment project in Huizhou, south China's Guangdong Province, made new progress as it completed the hoisting of heavy equipment and started the construction of a technology center on Wednesday.
The ExxonMobil Huizhou Ethylene Project, with a total investment of about 10 billion U.S. dollars have seen the smooth construction of the first-phase project and the preparatory work of the second-phase project.
The technology center is ExxonMobil's first integrated center of its kind outside the North American headquarters with pilot plant, product development, and process development, which can serve to meet the growing market and technology needs of the Asia Pacific region, according to Fernando Vallina, chairman of ExxonMobil (China) Investment Co., Ltd
The new center is expected to promote international technology exchanges and cooperation. It may also help expand the Asia-Pacific R&D market and improve local technological innovation capacity, said Fernando Vallina.
Data show that the total amount of funds in place for the whole project reached 1.42 billion U.S. dollars, and the accumulative investment in fixed assets reached 17.55 billion yuan (around 2.55 billion U.S. dollars) by the end of 2022.
The ExxonMobil Huizhou Ethylene Project is in the Huizhou Dayawan Petrochemical Industrial Park and is one of China's major foreign investment projects. The first phase of the project includes a steam cr--ker and production facilities for performance polyethylene and polypropylene.