Energy
Exxon Bets on China Chemicals Growth Even as US Relations Sour
- Executives have visited its Huizhou complex this year
- The prize is a major stake in top growth market for plastic
This article is for subscribers only.
Exxon Mobil Corp. is forging ahead with a multi-billion-dollar petrochemical complex that’s the cornerstone of its growth strategy in China, even as political tensions push other corporations to reassess their exposure there.
Exxon executives have made multiple trips this year to check progress on the project in Huizhou, China, according to people familiar with the matter who asked not to be identified while discussing internal matters. The facility is the biggest of a dozen or more new projects in the country being developed by companies that will produce ethylene, a plastic feedstock, according to S&P Global. It is designed to allow for expansion beyond its initial build-out, according to six people who worked on the project.