January 15, 2025 [Market Screener]- A joint venture of Shell and CNOOC plans to expand its petrochemical facility in south China’s Guangdong province in a project targeted for completion in 2028, it said on Wednesday.
CSPC, or CNOOC and Shell Petrochemicals Co, will add a third ethylene cracker with a production capacity of 1.6 million metric tons per year at the site in Daya Bay, Huizhou. Ethylene is used to make plastics.
The joint venture will also build a facility to produce 320,000 tons per year of speciality chemicals such as polycarbonates, which are used to make impact-resistant plastics, and carbonate solvents, a component of lithium-ion batteries.
Currently, the site produces 2.2 million tons a year of ethylene and 6 million tons of chemical products.
The new capacity will primarily cater to the domestic Chinese market.
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