08:50 AM EST, 01/15/2025 (MT Newswires) -- Shell's (SHEL) Nanhai subsidiary's joint venture with China National Offshore Oil's CNOOC Petrochemicals Investment, a 50-50 joint venture known as CNOOC and Shell Petrochemicals Company Ltd., or CSPC, has decided to invest in the expansion of its petrochemical complex in Daya Bay, Huizhou, in south China, Shell said Wednesday.

Financial terms weren't disclosed.

Plans for the expansion include a third ethylene cracker with a capacity of 1.6 million metric tons a year of ethylene and a new facility to produce 320,000 metric tons a year of specialty chemicals, such as polycarbonates and solvents, Shell said.

The new facilities are primarily aimed at meeting domestic demand in China, Shell said.