Industry

BASF to invest Rs.360 cr

Martin Brudermuller

Martin Brudermuller  

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Global chemicals major, BASF will invest around 50 million euros (Rs.360 crore) in a new innovation campus in Navi Mumbai, near Mumbai. This is part of the company’s earlier stated aim to generate 30 billion euros sales worldwide by 2020 with products that have been introduced in the market post 2011.

The investment will be made through a 100 per cent subsidiary of parent BASF SE, BASF Chemicals India Pvt. Ltd. The facility when it comes on stream in 2017, will accommodate 300 scientists investigating areas such as crop protection, process development and polymer research, Dr.Martin Brudermueller, Vice Chairman of the Board of Executive Directors, BASF, said here at the ground-breaking function of the facility.

This is BASF’s second R&D facility in Asia following one established in Shanghai in 2012. BASF plans to locate 25 per cent of its global R&D employees in Asia Pacific by 2020 and the BASF Innovation Campus (Mumbai) will be a key hub. After Shanghai, it is BASF’s second major R&D location in Asia Pacific. ``Of our planned investment of 10 billion euros in Asia Pacific between 2013 and 2020, a good portion will come to India,’’ Mr. Brudermuller said.

On the company’s Rs 1,000 crore complex at Dahej, R.Ramachandran, CMD, BASF India said all plants at the site will be active by 2016. He said the company’s performance in the quarter ended September was impacted owing to the Rs 1,000 crore investment and the depreciation associated with it.

The Mumbai campus will include synthesis, application, process and analytical laboratories. It will host regional and local development activities serving BASF’s performance chemicals, care chemicals and pigments & dispersions businesses.

As the global leader in chemicals, BASF’s portfolio includes chemicals, plastics, performance products, crop protection products and oil & gas. In India it is present in all verticals except oil & gas and has 2,254 employees at eight production sites.

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Printable version | Jan 26, 2020 6:55:18 PM | https://www.thehindu.com/business/Industry/basf-to-invest-rs360-cr/article6676732.ece

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