AsianScientist (Jan. 10, 2012) – BASF and SINOPEC today inaugurated the $1.4 billion second phase of their integrated petrochemical site in Nanjing, which includes expansions of existing plants and construction of new facilities.
BASF-YPC Co., Ltd. is a 50-50 joint venture between BASF and Sinopec, founded in 2000 with a total investment of $2.9 billion in the first phase. Located in Nanjing, Jiangsu Province, it produces chemicals and polymers for the Chinese market.
“Through this successful partnership, we are able to bring vital chemical products and solutions to China that will directly support local industries as they strive to meet the needs of a rapidly developing population,” said Dr. Martin Brudermüller, Vice Chairman of the Board of Executive Directors of BASF SE, responsible for Asia Pacific.
$1 billion further expansion
BASF and SINOPEC signed a Memorandum of Understanding in December 2010 to jointly explore the further expansion of BASF-YPC, with new investments under consideration collectively totaling approximately $1 billion.
Construction of a superabsorbent polymer (SAP) plant with a capacity of 60,000 metric tons per year will begin in mid-2012. Commercial production is planned for the beginning of 2014.
New projects to strengthen the C3 and C4 value chains include the construction of a new acrylic acid facility with a capacity of 160,000 tons per year, a new butyl acrylate plant, as well as a capacity increase at the 2-propyl-heptanol plant.
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Source: BASF.
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