10 April 2001 16:12 [Source: ICIS news]
BARCELONA, Spain (CNI)--BASF will invest Euro2.5bn ($2.25bn) in its plastics business over the next five years including a new European acrylonitrile butadiene styrene (ABS) plant, the German chemicals and life sciences group announced here Tuesday.
John Feldmann, BASF board member responsible for plastics, said this investment covers three isocyanate projects, a styrene monomer (SM)/propylene oxide (PO) joint venture project with Shell in Singapore and a restructuring of polystyrene (PS) and nylon activities in Ludwigshafen, Germany.
The investment also covers an acrylonitrile butadiene styrene (ABS) plant which BASF plans to build in Europe, plus other unspecified projects. Feldmann said the location of the ABS project has not yet been finalised.
BASF's plastics business was "somewhat subdued" in the first two months of 2001 because of the continuing slowdown on the US and Japanese economies, Feldmann revealed. "However, we expect demand to pick up considerably in the second half of the year."
The isocyanate projects are located in China, South Korea and the US. BASF is building in Caojing, near Shanghai a 160 000 tonne/year integrated methyl di-isocyanate (MDI) plant in partnership with US group Huntsman and a 130 000 tonne/year toluene di-isocyanate (TDI) unit with Chinese partners. The German group is also building two 140 000 tonne/year TDI facilities, in Yosu in South Korea and Geismar, Louisiana.
BASF's SM/PO joint venture project in Jurong Island will produce 550 000 tonne/year of SM and 250 000 tonne/year of PO, and is due onstream in H2-2002.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|