View in Other Languages 巴斯夫 (ETR:BAS) 与中石化(HKG:0386)将投资14亿美元扩建南京项目 巴斯夫(ETR:BAS)與中石化(HKG:0386)將投資14億美元擴建南京項目 BASF (ETR:BAS) and Sinopec (HKG:0386) to Invest US$1.4 Billion in Nanjing Project Expansion 
BASF (ETR:BAS) and Sinopec to Invest US$1.4 Billion in Nanjing Project Expansion
BASF (ETR:BAS) and Sinopec to Invest US$1.4 Billion in Nanjing Project Expansion

Ludwigshafen, July 8, 2009 AEST (ABN Newswire) - The German chemical giant BASF (ETR:BAS)(OTC:BASFY) and its joint venture partner China Petrochemical Corporation (Sinopec) are to invest US$1.4 billion to expand their key Chinese chemical production facilities in the eastern Chinese town of Nanjing, Jiangsu Province. Chemicals produced in Nanjing by the partners are targeted towards the building, pharmacy and automotive industries and the expansion of their facilities should be fully operational in 2011.

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 (NYSE:SNP)(SHA:600028)(HKG:0386) and BASF in Nanjing city.

Sinopec and BASF in March 2008 had reached an agreement to spend US$900 million to expand the 50-50 joint project. The two companies now plan to spend 56 per cent more because of higher costs and extra facilities. The biggest portion of the cost changes is related to the expansion of the steam cracker.

Contact

ABN Newswire
TEL: +61-2-9247-4344


ABN Newswire
ABN Newswire This Page Viewed:  (Last 7 Days: 15) (Last 30 Days: 58) (Since Published: 11540) 

View in Other Languages 119381181811540 (35296)

googlechart