German chemical giant BASF officially opened its new €8.7 billion (US$10b) production complex in Zhanjiang, South China’s Guangdong Province on March 26. It is the company’s largest investment globally so far.
In a video message, Chinese Commerce Minister Wang Wentao described the largest single investment project fully owned by a German enterprise in China as a “milestone and a landmark in deepening Sino-German economic and trade cooperation.”
Zhanjiang is BASF’s third-largest Verbund site worldwide, following Ludwigshafen, Germany, and Antwerp in Belgium. The Verbund model ensures resource-efficient operation of the whole value chain. The majority of the products manufactured in Zhanjiang will directly serve customers in China.
By using Verbund integration, process innovations and renewable energy, the site’s CO2 emissions can be reduced by up to 50 percent compared with a conventional petrochemical site, said BASF.
“Zhanjiang shows what the future of chemistry looks like: efficient, digital and sustainable by design. The site showcases a smart integrated Verbund structure on an industrial scale,” said BASF CEO Dr. Markus Kamieth at the inauguration ceremony.
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