BASF New Project China – BASF Invests USD10 Billion - Arhive

BASF New Project China

BASF Invests USD10 Billion In New Project In China

BASF New Project China

MOSCOW – BASF has begun construction of an integrated petrochemical project Verbund worth USD10 billion in the southern Chinese city of Zhanjiang, Guangdong province, the company said.

This project will be the first chemical complex in China, which is wholly owned by foreign owners.

The company says that technical polymers and thermoplastic polyurethanes (TPU), as well as some petrochemical products, will be produced in turn.BASF New Project China

The first phase of the project is expected to begin in 2022 with a production capacity of 60 thousand tons per year, as a result of which BASF’s total production capacity for technical plastics and TPU in the Asia-Pacific region will reach 290 thousand tons per year.

The company plans to complete the entire project by 2030. This plant is expected to become the third largest BASF site in the world after Ludwigshafen in Germany and Antwerp in Belgium.BASF New Project China

The company signed the first memorandum of understanding for this project with the government of Guangdong last July.

In January of this year, BASF signed an agreement outlining additional details of the plan.

BASF is a German company producing chemicals, plastics, special products, plant protection products, its subsidiaries are engaged in oil and gas production. The company operates in more than 80 countries, the number of employees of the group exceeds 115 thousand people.

Author: Anna Larionova

BASF New Project China

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