By Olaf Ridder 
 

BASF SE said Monday that its site under construction in southern China is expected to deliver annual sales of 4 billion to 5 billion euros ($4.69 billion to $5.86 billion) by 2030.

The German chemicals company said it is targeting a contribution in earnings before interest, taxes, depreciation, and amortization of EUR1.0 billion to EUR1.2 billion from its integrated Verbund site in Zhanjiang.

The project, costing EUR8 billion to EUR10 billion, is the second major Verbund site in China. Unlike BASF's site in Nanjing, which it operates with China's Sinopec Corp., the facilities in Zhanjiang belong to BASF alone.

BASF added that it expects just over two-thirds of the world's chemical production to take place in China by 2030.

 

Write to Olaf Ridder at olaf.ridder@wsj.com

 

(END) Dow Jones Newswires

September 27, 2021 06:42 ET (10:42 GMT)

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