The Chinese central government has approved the Joint Feasibility Study Report submitted by BASF and SINOPEC for the expansion of their joint venture, BASF-YPC Co., Ltd. (BYC), in Nanjing, China. BASF and Sinopec will jointly invest approximately $1.4 billion in state-of-the-art technologies to produce downstream specialty chemicals for the Chinese market, serving multiple industries such as construction, electronics, pharmaceutical, automotive and chemical manufacturing.
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