By Ed Frankl 
 

BASF SE said late Tuesday that it gave final approval for the construction of its site in Zhanjiang, China, which will focus on steam cracker and several downstream plants for the production of petrochemicals and intermediates.

The German chemical company said it would invest up to 10 billion euros ($10.23 billion) by 2030 to build the new integrated site.

Construction of what will be BASF's third-largest site began in 2020 and is due to be operational by 2030.

 

Write to Ed Frankl at edward.frankl@dowjones.com

 

(END) Dow Jones Newswires

July 20, 2022 01:32 ET (05:32 GMT)

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