BASF, the world's biggest chemicals maker, said on Tuesday it is planning to build a new plastics plant with China Petroleum & Chemical Corporation (Sinopec) in Maoming, south China.

The two partners have completed a joint feasibility study for a giant isononanol plant and will now form a 50-50 joint venture, called BASF IMPCC, to operate it, the German group said in a statement.

Production is scheduled to begin at the site in mid-2015.

Isononanol is used to make plasticizers.

BASF and Sinopec already jointly operate BASF-YPC, a petrochemicals joint venture, in Nanjing, China, which produces a wide range of chemicals for the rapidly growing Chinese market, the statement added.