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Sinopec, BASF to expand joint venture in Nanjing |
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| (China Daily) |
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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