KUALA LUMPUR, Malaysia, Oct. 14, 2026 — Honeywell Technologies (Nasdaq: HON) today announced the company will provide process technologies, licensing, engineering, proprietary equipment, catalysts and technical support services to help Hengyi Industries improve efficiency and reliability with higher-value petrochemicals production. Honeywell Technologies UOP solutions will be used to support Phase II of Hengyi’s Pulau Muara Besar (PMB) petrochemical project in Brunei.
The PMB planned hydrocracking, aromatics complex and dehydrogenation units are expected to be among the world’s largest facilities of its kind. PMB will reach approximately 20 million metric tons of annual crude-processing capacity in Phase II.
“With more than 100 years in the energy sector and technologies deployed in hundreds of aromatics complexes and process units, we help refining customers get more from their existing assets, feedstocks and resources,” said Rajesh Gattupalli, President of Honeywell Technologies UOP. “Our solutions are designed to continue in helping PMB improve efficiency and reliability while positioning them to diversify into higher-value petrochemicals to meet evolving market demands.”
Honeywell Technologies UOP process solutions – including CCR Platforming™, Unicracking™, Unionfining™, Butamer™ and C4 Oleflex™, together with a full Aromatics Complex based on light desorbent Parex™ technology – will be deployed in Phase II of PMB. The companies worked together during the first phase of the PMB project, with Honeywell Technologies providing process technologies, engineering design, key equipment and state-of-the-art catalysts and adsorbents, operator training and technical services for start-up and continuing operations.
“The successful implementation of Honeywell Technologies solutions in Phase I helped Hengyi further strengthen its integrated refining and petrochemical value chain while supporting Brunei’s efforts to create greater value from its oil and gas resources and expand downstream industries,” said Chen Liancai, CEO of Hengyi Industries Sdn. Bhd. “We believe deeper cooperation between our companies will support the development of Brunei’s energy and petrochemical sector while creating value for regional economic growth.”
About Honeywell Technologies
Honeywell Technologies is a global, pure-play automation company with a legacy of innovating to help solve the world’s most mission-critical challenges, enhancing the quality of life for people and communities around the world. We serve the building, industrial, and process sectors with a broad portfolio of services, solutions, and products, underpinned by our Honeywell Technologies Accelerator operating system and Honeywell Technologies Forge intelligence layer. By combining the deep domain expertise of our more than 50,000 employees with decades of data from our global installed base, we are uniquely positioned to lead the industrial sector’s transition from automation to autonomy. For more news and information on Honeywell Technologies, please visit Honeywell Technologies Newsroom.
About Hengyi Group
Hengyi Group is one of the world's leading technology-driven industry leaders with a fully integrated "refining-chemical-fiber" industry-chain. Founded in 1974 as the Ya Qian Commune Knitting Factory in Xiaoshan and incorporated as a group in 1994, it is now a technology-driven enterprise with nearly 30,000 employees and total assets exceeding RMB 160 billion. In 2025, the company reported annual revenue of RMB 501.6 billion, ranking 201st on the 2026 Fortune Global 500 and 50th on the China Top 500.
The group operates a diversified "three-head, six-arm" business model, synergizing oil refining, coal chemical, caprolactam/nylon, PTA, polyester, and waste textile recycling. Its current production capacities include 9 million tonnes of crude oil processing, 23 million tonnes of PTA, 15 million tonnes of PET, and 1 million tonnes of CPL and 1.12 million tonnes of PA6. Hengyi's core petrochemical assets are held through Hengyi Petrochemical (listed on the Shenzhen Stock Exchange in 2011), and it holds strategic stakes in China Zheshang Bank (listed in Hong Kong and Shanghai).
Moving forward, Hengyi is focused on an "onshore-offshore synergy and oil-coal integration" strategy. By significantly increasing R&D investment and driving continuous technological innovation, the group aims to transition from an industry leader to a technology pioneer. Hengyi is committed to high-quality development, with the goal of becoming a world-class petrochemical conglomerate by 2044.
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