Recently, it was reported that as of the end of 2020, ExxonMobil’s Huizhou ethylene project had completed 97.5% of the total project volume; the German specialty chemicals manufacturer Lanxess Group acquired its American counterpart Emerald Kalama Chemical for 6.7 billion yuan and is expected to To be completed in the second half of 2021. ExxonMobil Huizhou Ethylene Project has completed 97.5% of the total project volume. ExxonMobil Huizhou Ethylene Project is located in the Daya Bay Petrochemical Zone. It is a petrochemical project wholly owned by the American company ExxonMobil in China. The total investment is approximately US$10 billion. The entire The total area of the project is about 3.5 million square meters, and the investment in the first phase is about 34.29 billion yuan. It mainly builds 1.6 million tons/year ethylene and other devices.
The ExxonMobil Huizhou ethylene project will be implemented in two phases. Phase 1: Construction of crude oil steam cracking, polyethylene, polypropylene and other process equipment as well as supporting utilities Engineering etc. Phase II: 1.2 million tons/year ethylene equipment, polyethylene, polypropylene, butyl rubber and other process equipment and supporting public engineering equipment, storage and transportation packaging equipment, auxiliary production facilities and system engineering, etc.
The “cloud start” ceremony of the ExxonMobil Huizhou ethylene project held in April 2020 involving Beijing, Huizhou, Guangdong, and Dallas, the United States, is still vivid in my mind , which is the first major petrochemical project wholly owned by an American company in China.
Only 11 months later, the reporter visited and found that the project construction site was vast, the underground comprehensive pipe network was being excavated and constructed, and the office central control building, heavy cargo terminal, and cross-sea public pipelines were Corridors and other supporting projects are also under intensive and orderly construction. Up to now, the overall progress of the project is going smoothly. The reclamation and site leveling works have been completed, and the land has been listed for delivery. The main project environmental assessment, energy assessment, and safety assessment, as well as the office central control building, heavy cargo terminal, and cross-sea public pipeline corridor , liquid chemicals terminal and other supporting projects are progressing in an orderly manner as planned; the project has a total of US$340 million in funds in place. Among them, the first phase of the office central control building has a construction area of about 5,000 square meters. The construction above the ground has currently started. The main project is expected to be completed in May and July 2021; the construction scale of the heavy-duty terminal is 5,000 tons, and pile foundations are currently being carried out. Construction is underway and it is planned to be put into use in June 2022.
As of the end of 2020, 97.5% of the total project volume has been completed, which means that the main project site has been completed and preliminary installation construction is currently underway. The completion of this project will fill the gap in our domestic high-end chemical market and add strength to the creation of a world-class green petrochemical industry base.
ExxonMobil’s Huizhou ethylene project, with an investment of over 10 billion US dollars, will bring advanced olefin preparation technology and reduce the Chinese market’s dependence on the import of high-performance polyolefin products.
LANXESS acquired a US specialty chemicals manufacturer for 6.7 billion yuan
On February 14, a German specialty chemicals manufacturer Lanxess announced the signing of an agreement to acquire US peer Emerald Kalama Chemical. The transaction still needs to be approved by the relevant authorities and is expected to be completed in the second half of 2021.
The enterprise value of Emerald Kalama is US$1.075 billion. After deducting debt and other items, the acquisition price is approximately US$1.04 billion (867 million euros, approximately RMB 6.7 billion).
Emerald Kalama has approximately 500 employees and three production plants worldwide. The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) in 2020 was approximately US$90 million, with revenue of approximately US$425 million.
75% of Emerald Kalama’s total turnover comes from the consumer sector, including preservatives, flavors and flavors for food, household and cosmetics, and products for animal nutrition. The remaining 25% of sales come from the specialty chemicals business for industrial uses, including the plastics and adhesives industry.
LANXESS said that with this acquisition, its product portfolio will be expanded in a targeted manner: The company has a leading position in the global business of antimicrobial active ingredients and preservatives, such as Disinfectant effective against coronavirus or African swine fever. </p
