ExxonMobil Chemical has broken ground on a new technology center at the Shanghai Zizhu Science-based Industrial Park, planning to spend $70 million on equipment and a 27,000m2 building. The center is expected to begin operations in 2010 and provide application support to the region with laboratories and product-demonstration facilities for ExxonMobil’s polymer products and plasticizers. Initial employment will be approximately 200 people.
ExxonMobil's new center in Shanghai is expected to begin operations in 2010.
On the production side, ExxonMobil has already partnered with Saudi Aramco, Sinopec, and the Fujian provincial government to create the first wholly integrated Sino-foreign refining and petrochemical operation with 1.2 million tons/year polyolefin capacity. ExxonMobil has stated that petrochemicals are growing 30%/year in China, forecasting that 50% of global petrochemical sales and consumption will be in Asia by 2015. —[email protected]