Sinopec, BASF Eye 2nd Chinese Petrochemical JV

Law360, New York (July 31, 2012, 6:23 PM EDT) -- China Petroleum & Chemical Corp., known as Sinopec, and German chemical powerhouse BASF are planning a second petrochemical plant joint venture to cash in on escalating plastics demand in China, the pair said Tuesday.

Under their memorandum of understanding, the companies will begin to pursue the construction and operation of a “world-scale” Chinese plant to produce iso-nonanol, a petrochemical feedstock used as a plasticizing agent in wires, flooring and building materials.

“As the Chinese market continues its rapid growth with booming demand for plasticizers the [prospective...
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