BASF and Sinopec have inaugurated the US$1.4 bln 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 US$2.9 bln 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.