The first phase of a $10 billion petrochemical project is expected to be completed and begin production in Huizhou, a Pearl River delta city in Guangdong province, before the end of 2023, Huizhou city authorities said in a statement on Thursday.

Despite COVID-19, the construction of the huge ethylene project, which officially kicked off in April, has not been affected much, authorities said.

The project launched by Guangdong province and ExxonMobil Corp will be completed and start operation as scheduled, said authorities.

Located in Huizhou city's Daya Bay district in eastern part of the prosperous Pearl River Delta, the first phase of the project includes construction of ethylene cracking facilities, with a capacity of more than 1.6 million tons a year.

The first phase alone costs more than 36.88 billion yuan ($5.67 billion), and construction of the second phase of the project will start after the first phase is completed, authorities said.

It aims to transform Huizhou city into a world-class, green petrochemical production base.

According to authorities, the project will utilize advanced, environmentally friendly and mature proprietary production technologies to ensure construction of a green petrochemical complex in Daya Bay, playing a role in Huizhou and Guangdong's economic development in the years to come.

Guangdong province, window of China's reform and opening-up, has great potential for the development of petrochemical industry and prosperous province's market for petrochemical products is huge.