BASF to invest over US$700 mln in an acrylic acid plant in Brazilian state of Bahia

The Brazilian unit of German chemical giant BASF plans to invest Euros 500 mln (over US$700 mln) in an acrylic acid plant in the northeastern Brazilian state of Bahia. An agreement has been inked with Brazil's Braskem, Latin America's largest petrochemical company, for supply of feedstock propylene and soda. This investment by BASF in the global-scale complex to produce acrylic acid, butyl acrylate and superabsorbent polymers represents the largest investment in BASF's history in South America. This will be South America's first acrylic acid and superabsorbents plant, and will begin operating in 2014, and will meet the strong growth in Brazil.
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