05 March 2013 09:04 [Source: ICIS news]
SINGAPORE (ICIS)--BASF and China’s Xinjiang Markor Chemical Industry plan to start up a 100,000 tonne/year butanediol (BDO) and a 50,000 tonne/year polytetramethylene ether glycol (PTMEG) plant in 2015, the German chemical major said on Tuesday.
Under a joint venture the two companies plan to establish production of BDO and PTMEG in Korla, Xinjiang Uygur autonomous region, northwest China.
The joint venture agreements have already been signed but are subject to further closing conditions and regulatory approvals, BASF said in a statement.
Financial details of the joint venture were not disclosed.
The plan is to bring the two plants - located at the same site of Korla - on line in 2015, the company added.
“Based on our globally leading technology and the strong local presence of Markor in China, we are aiming to expand our local production capacity in order to support our customers in the Chinese market with high quality products,” said Dr Guido Voit, Senior Vice President, responsible for the region Asia Pacific within BASF’s Intermediates division.
PTMEG serves as a chemical building block for thermoplastic polyurethanes (TPU) used to make hoses, films and cable sheathing.
Xinjiang Markor Chemical Industry is a subsidiary of Markor Investment Group located in Markor Chemical Park in Economic and Technological Development zone, Korla, Xinjiang, China.
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