Invested in a new 1 million tons steam cracking ethylene plant in Nanjing to support the development of downstream products
Further expand the production capacity of the joint venture Yangzi Petrochemical - BASF Co., Ltd.
The two sides jointly explore new business opportunities in the field of battery materials
China Petroleum & Chemical Corporation (Sinopec) and BASF Europe (BASF) recently signed a memorandum of understanding in Beijing to further strengthen the cooperation between the two sides in the upstream and downstream chemical production in China.
The two sides will build a new steam cracker to further expand the joint venture of the two companies, Yangzi Petrochemical - BASF Co., Ltd. (Yamba), the preliminary feasibility study is expected to be completed by the end of 2018.
In addition, the two sides will jointly explore new business opportunities in China's fast-growing battery materials market.
China Petroleum & Chemical Corporation (Sinopec) and BASF Europe (BASF) recently signed a memorandum of understanding in Beijing to further strengthen cooperation in upstream and downstream chemical production in China.
According to the memorandum, Yangzi Petrochemical and Yamba will construct a second steam cracker with a 50:50 ratio to produce 1 million tons of ethylene per year. Yangzi Petrochemical and Yamba will acquire all the products of the plant to develop downstream. Product portfolio.
The basic chemicals provided by the new steam cracker will further expand the production capacity of Yamba's integrated base in Nanjing. The concept of Verbund is to interconnect all production facilities to achieve efficient products, by-products and energy. Use, to save production costs, while minimizing the impact of production on the environment.
Yangba Company Nanjing Production Base
Mr. Dai Houliang, Chairman of Sinopec Corp., said: 'Sinopec and BASF have strengthened cooperation and produced high-quality chemicals to further enhance the quality of life of consumers and fuel the good life. In the future, the two sides will continue to strengthen this partnership and create new ones. the value of. '
Dr. Bo Yule, Chairman of BASF's Executive Board, said: 'Increase investment in the construction of a second steam cracker and further expand Yamba, highlighting the close partnership between BASF and Sinopec, and our shared commitment to Chinese customers.'
Sinopec and BASF will jointly explore new business opportunities in the battery materials market. In China, the importance of alternative energy sources continues to increase, especially in the automotive industry, which requires innovation in battery materials to meet a growing demand for applications.
Yangzi Petrochemical-BASF Co., Ltd. was established in 2000, with a total investment of 5.2 billion US dollars so far. The integrated production base produces about 3 million tons of high-quality chemicals and polymers each year, meeting agriculture, construction, electronics, medicine, Health, automotive and chemical industry demand for rapid growth. Yangzi Petrochemical - BASF's sales in 2017 was about 21 billion yuan, with 1,882 employees by the end of 2017.