#BASF launches biggest overseas project in #China with green-powered mega-site
German chemical giant opens US$10 billion Zhanjiang complex, its largest overseas investment, as Beijing courts foreign capital.
Germany’s chemical giant BASF has launched operations at its China production base – its largest overseas investment to date – with a total outlay of €8.7 billion (US$10 billion), and the country’s first wholly foreign-owned large-scale Verbund site.
The company on Thursday inaugurated the world-scale complex in Zhanjiang, Guangdong province, designed to run entirely on renewable electricity.
A Verbund site is an integrated chemical complex where plants, energy use and materials are interconnected to maximise efficiency and minimise waste.
The site has brought 18 plants and 32 production lines into operation, producing more than 70 types of products spanning basic chemicals, intermediates and specialty chemicals for industries including transport, consumer goods, electronics, home care and personal care.
Read more at: https://www.scmp.com/business/article/3348021/basf-launches-biggest-overseas-project-china-green-powered-mega-site
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