BASF, Huntsman to build polyurethane complex in China

BASF, Huntsman and a number of Chinese companies have announced a partnership to build an integrated isocyanates complex in Shanghai. The complex is scheduled to be operational in 2006.
At a recent ground-breaking ceremony, Peter Huntsman, president and CEO of Huntsman stated: "China has a burgeoning polyurethanes market and is rapidly becoming a major area of focus foe all of the Huntsman companies. This project demonstrates our commitment to increasing our presence here."
The $1 billion project has a planned capacity of 240,000 metric tons per year crude MDI and 160,000 tons per year of TDI to supply the growing local market.