TAGS: Sustainability / Natural Solutions
BASF and SINOPEC break ground for the expansion of their Verbund site operated by BASF-YPC Co., Ltd. (BASF-YPC), a 50-50 joint venture of both companies in Nanjing.
The expansion includes new capacities of several downstream chemical plants and a new tert-butyl acrylate plant, to serve the growing demand from various industries in the Chinese market.
New Plant to Come on Stream by 2023
The tert-butyl acrylate plant will be an extension to the downstream using acrylic acid and isobutene of the existing Verbund as feedstock, which marks the first time this advanced production technology is applied outside of Germany. The expanded and new plants are planned to come on stream by the end of 2023.
The partners will expand the production capacities of propionic acid, propionic aldehyde, ethyleneamines, ethanolamines and purified ethylene oxide, and build a new tert-butyl acrylate plant. “
BASF-YPC is one of the most successful joint ventures for BASF globally with outstanding safety and business performances," said Dr. Markus Kamieth, member of the board of executive directors, BASF SE.
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The success of BASF-YPC in the past years well reflected the good cooperation of SINOPEC and BASF," said Baocai Yu, president of SINOPEC Corp. "
The expansion will enable the company to increase the capacity and portfolio of high-end chemicals, further enhancing competitiveness of the joint venture.”
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We will deploy the state-of-the-art technologies to build the new facilities at the BASF-YPC, which allows us to gain competitive edge in the dynamic Chinese market,” said Dr. Jeffrey Lou, president and chairman Greater China, BASF.
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The domestic petrochemical industry is in high-quality development. With the support of all involved parties, we will implement the expansion project on the first-class standards,” said Yuefeng Gu, chairman of Sinopec Yangzi Petrochemical Company Limited and BASF-YPC Company Limited.
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The advanced modern petrochemical site will promote the transformation and upgrading of the petrochemical industry and make greater contributions to local economic and sustainable development,” added Yuefeng Gu.
Source: BASF