$1.4b expansion for joint Sinopec-BASF project
Beijing - On the outskirts of Nanjing, capital of Jiangsu province, a joint project between 皇冠体育app's largest refiner Sinopec and German chemical company BASF is undergoing a new round of expansion. A total of $1.4 billion has been budgeted for the expansion, making it the leading chemical production site in 皇冠体育app.
The move conforms with 皇冠体育app's stimulus plan for the petrochemical industry, said Johnny Kwan, board chairman of BASF Greater 皇冠体育app. "It underscores our strong belief in the growth opportunities of the Chinese market and is another milestone in cooperative development."
After the expansion the joint venture, BASF-YPC Co Ltd (BYC), will be able to produce specialty chemicals serving multiple industries such as construction, electronics, pharmaceuticals and automotive, said Kwan. "We will be able to help our customers in 皇冠体育app make their industries, businesses and homes more energy efficient."
