MOSCOW (MRC) -- BASF gave final approval for the construction of its Zhanjiang chemical complex, the company said, with the focus now on building a steam cracker and several plants for producing petrochemicals and intermediates.
The site, which will be the company's third-largest globally once complete, is due to be fully operational by 2030.
The company will focus on building the core of the site, which will include a steam cracker and several other petrochemicals and intermediates, BASF said.
The company plans to invest up to EUR10bn by 2030 to build the new site, it said. By then, the site should be fully operational. It will be BASF’s third largest Verbund site, after Ludwishafen, Germany, and Antwerp, Belgium.
BASF had started construction of the first plants at the site in 2020. It is starting up the first engineered plastics unit. A plant that will make thermoplastic polyurethanes (TPUs) should start up in 2023.
As per MRC, BASF and Sinopec are further expanding their joint Verbund site in Nanjing, China. It is manufactured by BASF-YPC Co., Ltd. (BASF-YPC), a 50:50 joint venture between the two companies. The capacities of several downstream chemical plants will be expanded for the growing Chinese market. This also includes the construction of a new tertiary butyl acrylate plant.
As per MRC, BASF completed a double-digit million euro investment to increase production capacity for Tinopal CBS optical brighteners at its Monthey site. Following phase one of the stepwise capacity increase in 2021, the recent completion of the investment program has now brought significantly increased capacity on stream to meet growing global customer demand.
BASF is the leading chemical company. It produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries.