GUANGZHOU, May 21 (Xinhua) -- German chemical giant BASF said Tuesday that it would build two new plants at its planned Verbund chemical production site in southern Chinese city of Zhanjiang.
The two plants, one for engineering plastics compounding and the other for producing thermoplastic polyurethane (TPU), are expected to be put into operation in 2022.
The new engineering plastics compounding plant is expected to supply 60,000 tonnes of BASF engineering plastics compounds every year.
The planned Verbund site in Zhanjiang would be BASF's largest investment, estimated to reach up to 10 billion U.S. dollars by completion.
Stephan Kothrade, president and chairman of Greater China of BASF, said the market in south China for chemical products is under-supplied and his company is very confident that the capacity at the new production site is needed.
"BASF always followed the strategy to set up local production capacities in various regions and countries," Kothrade said. "So from that, we can supply our customers with high quality products."
