08 June 2011 14:13 [Source: ICIS news]
LONDON (ICIS)--BASF has agreed to buy a 50% stake in a 400 megawatt (MW) power plant that supplies its production hub in ?xml:namespace>
Zandvliet Power operates a combined heat and power (CHP) plant on the BASF site in
BASF expects to complete the transfer of the stake this summer. Financial terms were not disclosed.
“This investment makes us more attractive as an integrated chemical production site," said Wouter De Geest, CEO of BASF Antwerpen.
"Following this acquisition, we will jointly manage this CHP plant, which is important for the security of supply of electricity and steam to our chemical plants," he added.
BASF's move comes as chemical and other industrial producers in
For more on BASF and other producers visit ICIS company intelligence
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