Sinopec, BASF to expand joint venture in Nanjing
(China Daily)
Updated: 2006-07-18 15:13 The country's biggest refiner
China Petroleum & Chemical Corp (Sinopec) and German chemical giant BASF AG
last week announced their agreement to expand a joint venture project in
Nanjing, East China's Jiangsu Province.
The two parties will inject a
total investment of US$500 million into the project.
The expansion for
the venture, which is one of the largest Sino-foreign petrochemical joint
ventures in China with a total investment of US$2.9 billion for the first phase,
includes raising the cracker capacity by 25 per cent and extending downstream
capacities.
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