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Article: BASF, Sinopec expanding JV in Asia by building 10 plants.(News)
- Article from:
- Plastics News
- Article date:
- October 5, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Nina Ying Sun
BASF SE and China Petroleum & Chemical Corp. (Sinopec) broke ground Sept. 28 to expand their joint venture, BASF-YPC Co. Ltd. (BYC) in Nanjing, China.
The companies plan to jointly invest $1.4 billion to produce downstream chemical intermediates and specialties for the Chinese market.
BASF also outlined a plan designed to help double its sales in the Asia-Pacific region by 2020.
Under the expansion, BYC will raise its ethylene capacity from 1.3 billion pounds per year to about 1.6 billion pounds per year, expand three plants and build 10 plants.
The venture's products will serve end markets including ...