BASF and Sinopec to cooperate on new steam cracker in China
Oct. 30, 2018
Germany’s BASF and China’s Sinopec are looking at constructing a new steam cracker in Nanjing, to further strengthen their partnership in upstream and downstream chemical production in China, the companies said in a joint statement on Monday.
The cracker will have a 1m tonne/year ethylene capacity.
Accordingly, their joint venture BASF-YPC will invest in a 50% stake while SINOPEC Yangtzi Petrochemical (YPC) will invest the other 50% to build a second steam cracker with a capacity of 1 million tons/year in Nanjing, China.
A joint pre-feasibility study on the new cracker will be concluded by the end of 2018 and both companies will have access to all of the output from the cracker to develop their downstream product portfolios.
In addition to the new cracker, the two companies stated that they will jointly explore new business opportunities in China’s fast-growing battery materials market.