Chemicals company BASF plans to invest €50 million (about ₹380 crore) to set up an innovation campus at its existing plant in Navi Mumbai. The research and development centre will employ 300 scientists when it becomes fully operational by the end of next year.
The company currently has one R&D centre at Chandivli in Mumbai with 50 scientists and another start-up centre at its plant in Navi Mumbai. All the research work would be consolidated at the new facility being built.
Martin Brudmuller, Vice-Chairman, Board of Executive Directors, BASF SE, said the innovation campus would host global research besides providing solutions in crop protection, process development and polymer research.
“We were very impressed with the talent pool available in India. The start-up lab at the factory has already created its first patent. Globally, the company has filed for 1300 patents last year,” he said.
The company recently announced the second phase investment of €90 million at its Shanghai facility which was started in 2012.
Other investmentsOf the planned investment of €10 billion by 2020, the company has already announced an investment of €2 billion in Asia Pacific region.
The company is in the process of expanding mobile emissions catalyst operation in Chennai. Upon completion of the project early next year, nine manufacturing lines will be housed in the site, producing light duty, heavy duty and motorcycle emissions control catalysts. On the recent sale of its business servicing textile industry, Brudmuller said in the last 10 years the company has acquired business worth €17 billion and sold off business worth €10 billion.
“Our focus in business is to constantly evolve. Considering our annual sales revenue of €73 billion, we have renewed about 30 per cent of our business. Though there are no plans to put any asset on the block right now, would to explore opportunities,” he said.