TOYO Engineering Corp. has been awarded contracts by BASF to provide EPC services for the overall management of the build-up of a large-scale petrochemical complex (BASF Zhanjiang Verbund Site Project) in Zhanjiang, Guangdong, China.
This new Verbund site project officially commenced in November 2019, and it is the BASF’s largest investment with up to EUR 10bn to be spent by 2030. It would be operated under the sole responsibility of BASF. The site would ultimately be the third-largest BASF site worldwide, following Ludwigshafen, Germany, and Antwerp, Belgium.
Since the conclusion of the partnership agreement in 2013, TOYO has continuously contributed to BASF’s investments in Asia Pacific by utilising region-rooted know-how of TOYO’s global network, such as Toyo-China, Toyo-India, Toyo-Malaysia, Toyo-Korea, IKPT (Indonesian subsidiary) and TEC Project Services (Japanese subsidiary).
TOYO was successfully awarded work on an acrylic acid plant by BASF in 2002, and its FEED experience and proven project execution skills obtained through several large-scale projects led BASF to chose the company again.