SINOPEC GROUP, BASF TO CONDUCT PHASE II BASF-YPC PROJECT

AsiaInfo Services, March, 2008

AsiaInfo Services 03-19-2008 Sinopec Group, BASF to Conduct Phase II BASF-YPC Project NANJING, Mar 19, 2008 (SinoCast via COMTEX) -- China Petrochemical Corporation (Sinopec Group) and BASF agree to conduct the Phase II BASF-YPC Project, namely, to expand the capacity of their integrated petrochemical project in Nanjing, the capital city of eastern Jiangsu Province. On March 17, 2008, both sides signed a supplementary agreement to the original agreement inked in July 2006, signaling that the feasibility study report of the project is formally completed. The project is under the operation of BASF-YPC Co., Ltd., a 50-50 joint venture set up in 2001, between German petrochemical giant BASF and Sinopec Yangzi Petrochemical Co., Ltd., a Nanjing-based subsidiary wholly owned by...