The collaboration was announced on October 19, 2026, and builds on Honeywell's role in phase one, where it supplied process technologies, engineering design, key equipment, catalysts and adsorbents, operator training and technical services.
Honeywell said the partnership aims to improve efficiency and reliability and enable production of higher-value petrochemicals. Upon completion of phase two, PMB will reach annual crude-processing capacity of approximately 20 million metric tons.
The project is part of a broader wave of Asian refinery-petrochemical integration investments aimed at shifting output toward higher-value chemicals and reducing exposure to transportation fuel demand.
Honeywell did not disclose the value of the contract or a detailed completion timeline in the announcement.
