BASF and China Petroleum & Chemical Corporation (Sinopec) have signed a memorandum of understanding to strengthen their cooperation by jointly exploring the possibility of building a world-scale isononanol (INA) plant in Maoming Hi-tech Industrial Development Zone, China.
The final scope of the investment will be determined following the outcome of the joint feasibility study, which is expected by the end of 2012.
Under the terms of the MoU, the two parties will evaluate the technical, commercial and economic viability of jointly owning and operating a world-scale facility for the production of INA under a 50-50 joint venture agreement.
Dr Albert Heuser, president BASF Asia Pacific, said: "As the Chinese market continues its rapid growth with booming demand for plasticizers, the INA investment in Maoming serves the increasing demand for next-generation plasticisers.”
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