07/31/2012 | Editor: Dominik Stephan
A union of giants: Chemical heavyweight BASF and Chinese petrochemical giant Sinopec plan a further cooperation for a new world-scale isononanol (INA) plant in Maoming, China. With this investment in plasticizers, the two partners could significantly increase their footprint in China's rubber and polymers business, industry experts believe.
Shenzhen/PR China; Ludwigshafen/Germany – “As the Chinese market continues its rapid growth with booming demand for plasticizers, the INA investment in Maoming serves the increasing demand for next generation plasticizers,” said Dr. Albert Heuser, President of BASF Asia Pacific. Under the terms of the MoU, the two parties will evaluate the technical, commercial and economic viability of jointly owning and operating a world-scale facility for the production of INA under a 50-50 joint venture agreement. A financial scope will be determined after the completion of a joint feasibility study by the end of 2012.
INA is used as the feedstock for the production of next generation plasticizers, like diisononyl phthalate (DINP) and non-phthalate plasticizer Hexamoll DINCH. Plasticizers like these are widely used for rubbers and polymers in applications such as automotive, wires and cables, flooring, building and construction.
“After many years of successful cooperation with Sinopec, this project builds on our strong partnership and offers an exciting opportunity for BASF in China. Maoming provides excellent integration possibilities into the refinery structure, which will contribute further to the overall environmental and economic efficiency of the project,” added Dr. Hreuser. The memorandum was signed by Dr. Albert Heuser, President BASF Asia Pacific and Dr. Yu Xizhi, President of Sinopec Maoming, on July 30 in Shenzhen, China.
Dr. Yu Xizhi, President of Sinopec Maoming commented, “This cooperation not only builds on the valued relationship Sinopec already holds with BASF, but also goes to highlight the success of Sinopec’s international partnerships. We are confident that this development will provide an even broader range of chemical products to the South China region, as well as across the country, contributing to a sustainable future.” Both companies already cooperate on a 50%50 joint venture for BASF-YPC, a world scale petrochemical production in Nanjing.
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