By Pierre Bertrand

 

BASF SE said that the first plant at its new Zhanjiang Verbund site in Southern China began operations Tuesday.

The new engineering-plastics compounds plant will service the automotive and electronics industries and has an annual capacity of 60,000 metric tons, the German chemical company said.

Announced in 2018, the new Verbund site in China will be the company's third argest after its centers in Ludwigshafen in Germany and Antwerp in Belgium, BASF said.

The company says it will have invested up to 10 billion euros ($9.93 billion) in the new site by the time it is fully operational by 2030.

 

Write to Pierre Bertrand at pierre.bertrand@wsj.com

 

(END) Dow Jones Newswires

September 06, 2022 09:36 ET (13:36 GMT)

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