BASF
Annual MDI capacity in Korea being widened to 250,000 t / Site expansion to cost EUR 50m
 Contract signing in Yeosu (from left): BASF Korea CEO Chin-wook Cho, BASF Polyurethanes president Wayne T. Smith, Jeollanamdo province governor Park Joon-Yung and Yeosu mayor Kim Chung-Seog (Photo: BASF) |
BASF (Ludwigshafen / Germany; www.basf.com) is pressing ahead with plans to expand its isocyanates capacity and its presence in Asia. The group has signed a memorandum of agreement to increase capacity at its MDI complex in Yeosu / Korea from 190,000 t/y to 250,000 t/y up to 2012.
Together with other companies, BASF will invest a total of KRW 80 bn (EUR 50m) in upgrading the Korean site, adding some 40 new jobs. The German group’s Yeosu complex, established in 1998 and designated by the Korean government as a foreign investment area in 2000, also produces 160,000 t/y of TDI and 20,000 t/y of carbonyl chloride derivatives. It employs 230 people. BASF recently received approval from Chinese authorities to proceed with its delayed 400,000 t/y MDI plant at Chongqing – see Plasteurope.com of 28.03.2011. Altogether, the group intends to spend EUR 2.3 bn on beefing up its Asian presence up to 2015.
Together with other companies, BASF will invest a total of KRW 80 bn (EUR 50m) in upgrading the Korean site, adding some 40 new jobs. The German group’s Yeosu complex, established in 1998 and designated by the Korean government as a foreign investment area in 2000, also produces 160,000 t/y of TDI and 20,000 t/y of carbonyl chloride derivatives. It employs 230 people. BASF recently received approval from Chinese authorities to proceed with its delayed 400,000 t/y MDI plant at Chongqing – see Plasteurope.com of 28.03.2011. Altogether, the group intends to spend EUR 2.3 bn on beefing up its Asian presence up to 2015.
17.06.2011 Plasteurope.com [219647-0]
Published on 17.06.2011
German version of this article...