BASF and SINOPEC break ground on world-scale isononanol plant in Maoming, China
BASF and China Petroleum & Chemical Corporation (SINOPEC) broke ground today on the construction of its world-scale isononanol (INA) plant in Maoming Hi-tech Industrial Development Zone, Maoming, China. At start-up in 2015, the plant, which is the first of its kind in China, will serve the increasing market demand for next-generation plasticizers. A newly-formed 50-50 joint venture company has been created, BASF MPCC Company Limited. The new plant will bring around 100 new jobs in Maoming.
“High quality and reliable plasticizers help underpin industrial growth, and with this plant we will be well positioned to serve China’s growing demands. Additionally, this project brings us a step closer to BASF’s strategic goal to better serve local industries with local production in Asia Pacific of approximately 75% by 2020. The new joint venture with SINOPEC also solidifies our already strong partnership, and demonstrates BASF’s long-term commitment to China,” said Dr. Albert Heuser, President, Functions Asia Pacific, President and Chairman, Greater China, BASF.
“This project is the first of its kind to bring BASF’s advanced INA technology into China, and to build a world-scale INA plant at Maoming Hi-tech Industrial Development Zone. It not only fills the country’s INA production gap, but also opens a new chapter for the strategic alliance between SINOPEC and BASF. It closely unites two strong parties in order to enjoy mutual benefits and develop business together, taking our relationship to a new level. I hope both shareholders continue to broaden our co-operation, and to explore how to further utilize SINOPEC Maoming, this area’s refinery products, and the public infrastructure, so as to maximize the production of BASF MPCC Company Limited and both shareholders’ business interests,” said Dr. Yu Xizhi, President of SINOPEC Corp. Maoming Company.
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