German chemical giant BASF's Verbund site project in Zhanjiang, Guangdong province, is expected to launch production and operation by the end of 2025, according to a senior marketing manager of the company.
"We have high expectations for operations of the Verbund site project, which is one of BASF's most important projects in China," said Mao Yu, senior marketing manager at the corporate communications department of BASF Greater China.
Mao made the remarks during an investment conference on the digital economy in Huadu district of Guangzhou, the Guangdong capital, on Thursday.
The Verbund site project was announced for construction in July 2018 and officially launched in November 2019.
The Zhanjiang project is one of BASF's largest single investment projects, with a total investment of approximately 10 billion euros. It is independently constructed and operated by BASF.
According to Mao, BASF also plans to celebrate its 140th anniversary of doing business in China with an event in Guangzhou this year.
"BASF's synthetic dye products, when first introduced in China 140 years ago, were unloaded in Guangzhou and distributed nationwide," said Mao.
After 140 years, with the development of the Guangdong-Hong Kong-Macao Greater Bay Area, Guangdong has become a global hub for goods, a center for manufacturing, and an important market for BASF, according to Mao.
"Holding BASF's 140th-anniversary celebration in China has special significance — the idea of celebrating has received strong support from the government of Guangzhou and Huadu district," said Mao.
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