(Yicai Global) Jan. 30 -- Libert’s stock price rose after the Chinese firm announced its second big contract with Germany’s BASF in a month to supply chemical plant equipment modules worth as much as USD65 million.

Shares of Libert [SHA: 605167] gained 2.7 percent in Shanghai today to close at CNY8.90 (USD1.32) apiece.

The contract’s value is between USD50 million and USD65 million, Jiangsu province-based Libert said in a statement late yesterday. The equipment supplied will be used to expand BASF’s methylene diphenyl diisocyanate production capacity at its Geismar plant in Louisiana, it added.

The announcement follows one on Dec. 27 in which Libert said it would provide 12 modules and civil construction services, such as device installation, to BASF’s engineering plastics megafactory in Zhanjiang, Guangdong province for CNY634 million (USD93.4 million).

Under the latest deal, Libert will be in charge of materials purchasing, manufacturing, and product loading, with delivery likely to be completed by March 2025, the firm said.

BASF is one of the world’s biggest producers of MDI, a key raw material used when making polyurethane, and it has plants in China, the United States, and Europe, Libert said, adding that German firm plans to reach an annual production capacity of about 600,000 tons of MDI at the Geismar plant.

Editor: Martin Kadiev