China's Sinopec is likely to enter into a joint venture with ExxonMobil and Saudi Aramco to expand its petrochemical complex in Fujian.
Once the expansion has been completed the petrochemical complex is expected to produce 1 million tonnes of ethylene per year, according to China Daily.
The deal is also likely to include constructing an oil refinery in Fujian capable of producing 12 million tonnes of crude oil per year.
Sinopec started operations with ExxonMobil and Saudi Aramco at the ¥40bn ($5.86bn) oil refining and petrochemical complex in Quanzhou, Fujian province in 2009.
