February 28, 2019 / 9:48 AM / 23 days ago

China may tweak ecological curbs for BASF, Exxon projects - report

SINGAPORE, Feb 28 (Reuters) -

* China's environment watchdog is considering modifying coastal ecological red lines to make space for two giant chemical projects planned by Germany's BASF < and U.S. oil major Exxon Mobil, financial publication Caixin reported on Thursday

* South China's Guangdong province, where the two companies are each planning a mega chemical complex, has asked the Ministry of Ecology and Environment (MEE) to consider re-adjusting the red lines that could come within the planned plant sites, Caixin cited MEE officials as saying

* BASF and Exxon Mobil plan to build a $10 billion chemical complex each in Guangdong that requires landfill from the sea. BASF, for instance, will build its plant on a 9.23 square-kilometre space that requires filling 3.25 sq-km sea area, Caixin reported

* The two companies are among the first global industry leaders to be allowed to build wholly foreign-owned chemical plants in China after Beijing eases control over foreign ownership in some sectors.

* The agreement worth billions of dollars will include a 1.2 million-tonne-per-year (tpy) ethylene plant, two polyethylene production lines and two polypropylene lines in the coastal city of Huizhou, Exxon had stated last year (Reporting by Chen Aizhu, Editing by Sherry Jacob-Phillips)

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