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Sinopec’s Chairman Dai Houliang(L) shakes hands with BASF’s Chairman Martin Brudermüller(R) at the MoU signing ceremony. (Photo/Zhang Zheng)

Sinopec signed a memorandum of understanding (MoU) with Germanys BASF in Beijing on October 28. The partners intend to build an additional steam cracker in Nanjing, China, with 1 million mt/year of ethylene capacity. Additionally, the two companies will further expand capacity at their existing joint venture BASF-YPC site as well as explore new business opportunities in China’s battery materials market.