BASF, Sinopec complete second phase of Nanjing petrochemical venture
By NICKY REDL
German chemical company BASF said Tuesday it completed the $1.4 billion second phase of its petrochemical joint venture in Nanjing, BASF-YPC Co., with China Petroleum and Chemical Corp., also known as Sinopec. 
The second phase included expansions of existing plants and construction of new facilities, the companies said in a joint statement.
The companies added the construction of a super-absorbent polymer plant with a capacity of 60,000 metric tpy will begin in mid-2012, while commercial production is planned for the beginning of 2014.
The company plans further projects.
In December 2010, Sinopec and BASF signed a memorandum of understanding to jointly invest $1 billion to further explore the expansion of the site at Nanjing.
Dow Jones Newswires
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