ExxonMobil Corp. has signed a preliminary deal to build a multibillion-dollar petrochemical complex and invest in a liquefied natural gas terminal in China, despite trade tensions between the U.S. and China.
XOM's agreement with the Guangdong provincial government includes a 1.2M metric tons/year ethylene plant, two polyethylene production lines and two polypropylene lines in the coastal city of Huizhou; the complex, which is expected to start in 2023, remains subject to a final investment decision.
