BASF-YPC Co. Ltd. successfully starts up Verbund site in Nanjing, China
BASF-YPC Co. Ltd., a 50-50 joint venture between BASF and SINOPEC, has successfully started commercial production at a steam cracker as well as nine downstream plants at its Nanjing site in China as planned. The 220-hectare site will produce 1.7 million metric tons of high-quality chemicals and polymers per year for the rapidly growing Chinese market. A total of $2.9 billion has been invested in the construction of the integrated Verbund site.
BASF-YPC Co. Ltd. is the largest single investment in BASF's 140-year history and an integral part of BASF's strategy in the Asia Pacific region. Dr. Andreas Kreimeyer, member of BASF's Board of Executive Directors responsible for Asia Pacific, re-emphasized BASF's ambitious goals for the region: "By 2010, BASF aims to generate 20 percent of its sales and earnings in its chemical activities in Asia Pacific, with 70 percent coming from local production. The new Verbund site in Nanjing will make an important contribution toward achieving our goals."
After the groundbreaking of the site in September 2001, the basic mechanical completion was achieved at the end of 2004 and the first product was delivered to customers in January 2005. "The startup of the site in less than four years is a tremendous achievement of which all involved can be proud," said Dr. Bernd Blumenberg, President of BASF-YPC Co. Ltd. "The support of both parent companies - BASF and SINOPEC - as well as the Chinese government at all levels was crucial in us reaching this milestone."
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