Shell (NYSE:SHEL) said its joint venture with China's Cnooc (OTCPK:CEOHF) has taken a final investment decision to expand its petrochemical facility in south China's Guangdong province, targeting completion by 2028.

Shell PLC and CNOOC Petrochemicals announced investment decision for expansion of petrochemical complex in China to cater to growing domestic demand.

BAKU, Azerbaijan, January 15. CNOOC and Shell Petrochemicals Company Limited (CSPC), a joint venture between Shell Nanhai B.V. and CNOOC Petrochemicals Investment Ltd, has announced plans to expand its petrochemical complex in Daya Bay, Huizhou, southern China, Trend reports.

A joint venture of Shell and CNOOC plans to expand its petrochemical facility in south China's Guangdong province in a project targeted for completion in 2028, the company said in a statement on Wednesday.