BASF in China
BASF sees Zhanjiang site generating up to €5B in annual sales
Sep. 27, 2021 8:08 AM ETBASF SE (BASFY)By: Carl Surran, SA News Editor
- BASF (OTCQX:BASFY) says it expects the Zhanjiang chemical complex under construction in southern China will deliver €4B-€5B ($4.69B-$5.86B) in annual sales by 2030.
- The company says the Zhanjiang project, which will cost €8B-€10B, likely will contribute €1B-€1.2B to EBITDA by 2030.
- BASF expects two-thirds of the world’s chemical production will take place in China by 2030, and that the Zhanjiang plant ultimately would become the company third-largest production site after its Ludwigshafen headquarters in Germany and a complex in Antwerp, Belgium.
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