By Nathan Allen
BASF SE (BAS.XE) said Thursday that it has signed an agreement with China's Guangdong Province, setting out further details for the company's planned $10 billion production site in the region.
The agreement, which follows on from a memorandum of understanding signed in July, includes stipulations relating to the sustainable use of raw materials and technologies designed to reduce the plant's environmental impact.
Around nine square kilometers will be allocated for the site, which will produce up to 1 million metric tons of ethylene per year and will incorporate several plants for consumer-oriented products, BASF said.
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