Text Version
RSS Feeds
Newsletter
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  SERVICES
  -Text Version
  -RSS Feeds
  -Newsletter
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
 -
 -
China approves expansion of Sinopec-BASF joint venture in E China
+ -
13:15, July 07, 2009

 Related News
 China SMB market arrests Dell's attention
 Comment  Tell A Friend
 Print Format  Save Article
China Petrochemical Corporation (Sinopec Group), the country's largest oil refinery, announced Tuesday that the Chinese government has approved the feasibility study report on the expansion of the joint venture between its listed subsidiary China Petroleum and Chemical Corporation (Sinopec) and Ludwigshafen-headquartered BASF in east China's Nanjing city.

Sinopec and BASF will jointly invest approximately 1.4 billion U.S. dollars to expand the BASF-YPC Co. Ltd., (BYC) to produce downstream specialty chemicals for the Chinese market, serving multiple industries such as construction, electronics, pharmaceutical, automotive and chemical manufacturing.

The investment includes the expansion of the existing steam cracker and three existing plants as well as construction of 10 new chemical plants.

The expansion will become operational by 2011, according to the Sinopec Group.

The expansion project conforms with China's revitalization plan for the petrochemical industry, fosters the integration of BYC, broadens the portfolio of downstream products in Nanjing and meets the increasing demand in China's eastern region, said Wang Tianpu, President of Sinopec.

Yangzi-BASF Styrenics Co., Ltd. (YBS), another joint venture in Nanjing between the two partners, is being merged into BYC to further increase synergies in Nanjing operations. YBS produces styrene monomer, polystyrene and expandable polystyrene.

Founded in 2000, BYC is a 50-50 joint venture between BASF and Sinopec, with a total investment of 2.9 billion U.S. dollars in the first phase. The joint venture started commercial production in 2005.

Source:Xinhua



  Your Message:   Most Commented:
India's unwise military moves
Veiled threat or good neighbor?
13 more bodies from Air France flight 447 recovered
To Be or Not To Be-- reflourishing bicycle in China
Cambodia FM: Thailand threatens Cambodia and UNESCO over Preah Vihear temple

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved

http://english.people.com.cn/90001/90778/90857/90860/6694941.pdf