BASF opened its new Zhanjiang chemical complex on Thursday, marking the completion of an €8.7 billion ($10 billion) investment on Guangdong province's southwestern coast.

Covering an area of around four square kilometers, the site produces basic chemicals, intermediates, and specialty chemicals serving industries including transportation, consumer goods, and electronics. It employs over 2,000 people.

Attendance at the ceremony reflected the project's scale. Guangdong's Party Secretary Huang Kunming and Governor Meng Fanli were present, along with customers, business partners, and employees. China's Commerce Minister Wang Wentao and Germany's Federal Minister for Economic Affairs and Energy Katherina Reiche offered congratulations by video.

BASF CEO Markus Kamieth said the project, completed on schedule and under budget, fits the company's strategy of producing locally for local markets, with the majority of Zhanjiang's output destined for Chinese customers.

The company is positioning the site as a model for lower-emission chemical production. Stephan Kothrade, member of the board and chief technology officer of BASF SE, said that through Verbund integration—a system linking production processes to minimize waste—and renewable energy sourcing, the site could cut CO? emissions by up to 50 percent compared with a conventional petrochemical facility.

Long-term green power purchase agreements and investments in an offshore wind farm enable the site's electricity supply to be 100 percent renewable, he said.