Germany's BASF starts building $10-billion petrochemical project in China
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BEIJING (Reuters) - German chemical giant BASF has begun construction of its $10-billion (£7.8 billion) integrated petrochemicals project in China's southern province of Guangdong, the company said in a statement on Saturday.The project based in the city of Zhanjiang will be China's first wholly foreign-owned chemicals complex, for which a framework agreement was signed in January.It will primarily produce engineering plastics and thermoplastic polyurethane (TPU), and some petrochemical..