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BASF delays expansion of ethylene cracker capacity
Source: Fibre2fashion News Desk - China Date: 2009-04-16
It is reported that BASF will suspend expanding capacity on a large scale of a petrochemical project in Nanjing, China. The Chairman, Mr He Binjie, said that they decided to suspend the expansion scheme of ethylene cracking plant in Nanjing, considering there would be no rebound in the global chemical market this year.
The executive director of BASF, Pu Mule who is responsible for the East Asian market stressed that BASF has not given up plans to expand capacity, but has only decided to delay the pace of investment due to the current market conditions and will review the expansion as soon as the situation improves.
The project is a joint venture in Nanjing with China Petrochemicals entailing an investment of US $900 million aimed at expanding the ethylene cracker capacity from current 600,000 tons per year to 750,000 tons.
The executive director of BASF, Pu Mule who is responsible for the East Asian market stressed that BASF has not given up plans to expand capacity, but has only decided to delay the pace of investment due to the current market conditions and will review the expansion as soon as the situation improves.
The project is a joint venture in Nanjing with China Petrochemicals entailing an investment of US $900 million aimed at expanding the ethylene cracker capacity from current 600,000 tons per year to 750,000 tons.
