Korla City in 2015 (liuzusai刘祖赛)Korla City in 2015 (liuzusai刘祖赛)

Ludwigshafen am Rhein, Germany — BASF said Friday will sell its shares in two joint ventures in Korla, China. This decision is part of BASF’s global strategy to reduce the carbon footprint of its products. The company added it has not found any evidence of human rights violations in the joint ventures but will accelerate the divestment process.

Special in Uyghur: خىتايدىكى مەسىلىلىك سالماق سالغان مەبلەغنى سېتىۋېتىدۇ

The joint ventures in Korla produce carbide-based BDO and polytetrahydrofuran, which have a high carbon footprint due to the use of coal as a raw material. BASF will divest its shares in these joint ventures due to allegations of activities inconsistent with its values by the joint venture partner.

Korla is known primarily for its agricultural products, particularly fruit, and it’s a significant economic and industrial center in the region. The city has been developing its industrial capabilities, which might attract various international companies, including those in the chemical industry.

By Lisa Luckas

Lisa Luckas is a Sr. Business News Editor at Nobot.News.

Leave a Reply

Your email address will not be published. Required fields are marked *

GDPR Cookie Consent with Real Cookie Banner