BASF of Germany, on Friday, announced that it would invest Rs.1,000 crore to set up a new chemical plant at Dahej in Gujarat by March 2014.

“We have drawn up plans to invest Rs.1,000 crore to set up a greenfield speciality chemicals manufacturing facility at Dahej. This will supplement our existing plant and also cater to expand our business,” BASF India Chairman and Managing Director Prasad Chandran told reporters at the inauguration of the Indo-German Urban Mela here.

The company has already started the construction in April this year and the plant will be operational by March 2014. “The upcoming facility will help in expanding our business in sectors such as automotives, paints, paper, home care and life style. It will also supplement our Mangalore facility,” he added. Besides catering to the demand of the domestic market, the plant will export chemicals to other nations, including Pakistan, Sri Lanka, Bangladesh, Thailand and some other ASEAN countries. The company at present has nine manufacturing plants in India.

BASF also showcased a concept car jointly developed with German auto major Daimler with an advanced technology and energy-efficient light-weight design. BASF India had clocked a revenue of Rs.7,500 crore for 2011, registering a jump of 20 per cent over the previous year. The company, which has 2,300 employees in India, also has research and development (R&D) centres at Thane and Mangalore.

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