German chemical giant BASF has signed a memorandum to build its third largest chemical complex in Guangdong. The memorandum was signed under the witness of Chinese Premier Li Keqiang and German Chancellor Angela Merkel. The proposed complex is an integrated production chain. Covers the company's entire production process. The project is expected to have a total investment of 10 billion US dollars, BASF announced on July 9, this will be the largest investment in the company's history.
This complex is completely operated by BASF, construction is expected to be completed in 2030, and some projects are scheduled to be put into use in 2026.
The first phase of the project will include a number of petrochemical plants, including a steam cracker with an annual capacity of 100 million tons of ethylene. The second phase of the planned plant will produce more consumer-oriented products and solutions for the transportation or consumer goods market. .
BASF said it will adopt a comprehensive intelligent manufacturing concept based on cutting-edge technology, clearly indicating that the company is confident to create an advanced interconnected industrial 4.0 environment in the new complex. BASF expects that after the project is completed, it will become the company's third largest comprehensive chemical industry, only Less than the two major factories in Ludwig, Germany and Antwerp, Belgium.
The memorandum was signed in Berlin, Germany, and was signed by BASF President Ke Diwen and Guangdong Provincial Deputy Governor Lin Shaochun. The total population of Guangdong Province is 110 million, which is the most populous province in China. The province's GDP has increased by 7% annually, and the GDP has exceeded. Spain, is expected to soon be comparable to South Korea.