China’s Zhoushan woos town

ZHOUSHAN, China (Reuters) Exxon Mobil for a $7 billion ethylene plant – the Chinese city Zhoushan in talks with oil is great (XOM. Exxon Mobil Corp. N), is a $ 7 billion ethylene plant in the City South of Shanghai, build it said in a statement on Wednesday released.

file photo: a logo by Exxon Mobil is displayed on a monitor on the floor of the New York Stock Exchange shortly after the opening bell in New York, United States, 5 December 2017. REUTERS/Lucas Jackson/file photo

the unit annual production capacity of 1.5 million to 1.8 million tons, the statement would have, so that of greater than the 1.2 million tonnes per year plant Exxon plans in the city of Huizhou in southern province Guangdong.

this move comes as China, the world’s highest chemical consumer goes to the largest expansion in the petrochemical production in its history with at least 13 ethylene complex, which is planned in the next five years to complete.

will contain the push, so that better access to global majors to his massive chemicals market, plastics, coatings and adhesives to produce fast-growing consumer goods industry. (Click for the graphic,

Exxon Mobil has signed in the last month, that it will build a provisional deal, a petrochemical complex including an ethylene plant in Huizhou.

also agreed at the same time, a provincial project, to build a liquefied natural gas (LNG) terminal in the city and to deliver LNG, although no details on timing were to take part.

Also a 25-percent stake has

Exxon refinery and petrochemical industry in Fujian province in partnership with China’s top state refiner Sinopec.

Zhoushan, an island about 145 km (90 miles) South of Shanghai and East of the port of Ningbo, said it wants to invest in downstream chemicals, mainly in ethylene, with local refiner Zhejiang ready to start 20 – win petrochemical millions of tonnes per Annual oil refining and petrochemical complex.

the City Government also said it is in talks with the United States-based conglomerate Honeywell for a 10,000 tons per year catalyst production project.

message of Meng Meng and Dominique Patton; Edit by Richard Pullin and our standards of Christian Schmollinger

:the Thomson Reuters trust principles.