Core Viewpoint - The ExxonMobil Huizhou Ethylene Project Phase I has officially commenced production, marking a significant milestone as the first major petrochemical project wholly owned by a U.S. company in China and the first foreign-funded petrochemical project in the Guangdong-Hong Kong-Macao Greater Bay Area [1] Group 1: Project Overview - The total investment for the ExxonMobil Huizhou Ethylene Project is $10 billion, with Phase I including a flexible feed steam cracking unit with an annual capacity of 1.6 million tons of ethylene, two high-performance linear low-density polyethylene units with a combined annual capacity of 1.2 million tons, the world's largest single-unit low-density polyethylene unit with an annual capacity of 500,000 tons, and two differentiated high-performance polypropylene units with a combined annual capacity of 950,000 tons [1] - The ethylene production capacity of 1.6 million tons per year is the largest for a single unit in China [1] Group 2: Product Applications and Market Impact - The project will produce high-value basic chemical raw materials such as ethylene, polyethylene, and polypropylene, significantly enhancing China's self-sufficiency in high-quality raw materials like metallocene polyethylene and high-end polypropylene, thereby reducing reliance on imports of high-performance polyolefins [2] - The high-performance polyethylene produced can be used in packaging, medical materials, industrial, and consumer goods, while high-performance impact copolymer polypropylene (ICP) and non-woven polypropylene can be utilized in automotive, home appliances, hygiene, and personal care products, meeting diverse material demands across various industries [2] Group 3: Environmental and Sustainable Development - Some products will utilize recyclable materials, supporting lower carbon emissions in product applications and assisting customers in achieving sustainability goals [3] - The project adopts an external pre-treatment mode for environmental protection, which is a first in China, and the supporting comprehensive energy station can utilize process tail gas for combustion, achieving clean energy recycling [3] Group 4: Research and Development Initiatives - In February 2023, the ExxonMobil Daya Bay R&D Center began construction, equipped with the first pilot plant for polypropylene outside North America, aimed at accelerating the development of differentiated high-performance polypropylene and focusing on basic chemical research and product process development [4] Group 5: Industry Context - As of the end of 2024, China's ethylene production capacity is expected to reach approximately 57 million tons per year, a year-on-year increase of 5.3%, accounting for about 23% of global ethylene capacity. By the end of 2025, China's ethylene capacity is projected to exceed 70 million tons per year with an additional 13.3 million tons of capacity being added [5]
投资达100亿美元!世界级化工新材料项目投产