By Giulia Petroni

BASF SE on Thursday said that it would further expand production capacity at its Verbund site in China along with state-controlled Sinopec Group.

The German chemicals company said it will expand several downstream chemical plants and build a new plant to support the local market. The plants are set to come on stream in 2023.

The site is operated by BASF-YPC Co., a 50-50 joint venture between BASF and Sinopec.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

August 05, 2021 04:37 ET (08:37 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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