BASF to invest Euro2.5bn in plastics business over 5 yrs
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.
By: Robert Winder
+44 208 652 3214
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 |
Related Articles
- 16 Dec 03 16:57 BASF to buy Ticona's nylon 6,6 business
- 30 May 03 10:03 BASF sells ABS specialty 'Ronfalin' to British Vita unit
- 14 Jan 03 18:19 Sweet deals for BASF and Honeywell
- 23 May 02 11:44 BASF to build hydrogen peroxide-to-PO plant
- 12 Jun 00 00:00 BASF Outlines Strategies for Global Growth
- 21 Aug 01 11:42 BASF to expand 'Ultrason' capacity at Ludwigshafen
- 21 Jun 01 08:41 BASF to slash capital expenditure, close 10 sites and 14 plants
- 31 May 01 15:32 BASF brings Shanghai acrylic dispersions plant onstream
- 27 Apr 01 15:34 BASF cuts European PS output by 20% amid falling margins
- 26 Apr 01 09:06 BASF Q1 hit by lower chem/plastic profits, interest costs
- 10 Apr 01 16:03 BASF to expand MDI output in Antwerp, Belgium
- 10 Apr 01 15:25 BASF seeks new use for Tarragona oxo alcohols unit
- 14 Mar 01 08:49 BASF meets 2000 growth target despite price pressure
- 17 Jul 00 12:16 China approves Huntsman, BASF MDI project
- 17 May 00 20:39 BASF gives initial Louisiana TDI plant contract to Jacobs
- 08 May 00 23:11 BASF to spend $450m in Brazil, LatAm through 2004
- 05 Apr 00 04:37 Basell S'pore SM/PO project heading for Q3 '02 startup
- 15 Mar 00 09:11 BASF sees 10%/year profits growth in 2000-02
- 08 Mar 00 16:32 BASF invests Euro400m in S Korea expansions
Latest News
- 18 May 13 00:01 Indiana pulls nitrogen plant funding over fears about explosives
- 17 May 13 23:59 Europe May EO contracts fall in line with ethylene decrease
- 17 May 13 23:59 Europe May DMT reference prices roll over in line with feedstocks
- 17 May 13 23:59 Europe May purified terephthalic acid contract prices roll over
- 17 May 13 23:59 Europe May MMA contract prices dip on softer market fundamentals