BASF setting up Rs1,000-crore facility at Dahej
11 April 2012
BASF India Limited will invest around Rs1,000 crore (€150 million) in a new chemical production site at the Dahej Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) in Gujarat.
The new site will form an integrated hub with production facilities for polyurethane as also care chemicals and polymer dispersions for coatings and paper.
The new facility will ensure local supply for growing markets and industries such as appliances, footwear, automotive, construction, adhesives, architectural coatings, paper and personal care, the company said in a release.
BASF India will finance the project through internal accruals and loans and production is planned to start in 2014.
''With its robust local industries, India is set to become a pillar of growth in Asia Pacific. The country's changing demographic profile and the resulting need for improved quality of life are driving increasing market demand. With the new manufacturing facility, we will be able to serve our customers better by developing solutions that meet their individual needs as well as strengthen their competitive advantage,'' said Dr Martin Brudermueller, vice chairman of BASF SE, responsible for Asia Pacific.
''The Dahej site complements the existing manufacturing set-up of BASF in India and will support and contribute to the growth of the Indian chemical industry,'' said Prasad Chandran, chairman and managing director, BASF India Limited. ''The location offers excellent investment conditions and a favorable business environment due to the proximity to raw materials as well as customers. With this new project, we expect to grow our businesses in the important northern and western regions of India'', he added.