Comments
BASF plans to invest Rs 1,000 core to set up a new chemical plant at Dahej, in Gujarat.
The plant, to come up at the Dahej Petroleum, Chemicals and Petrochemicals Investment Region, will be financed through internal accruals and loans, the company said in a press release on Wednesday. Production is expected to begin in 2014.
The site will be an integrated hub for polyurethane manufacturing and will also house production facilities for care chemicals and polymer dispersions for coatings and paper.
The unit will cater to the needs of various industries such as appliances, footwear, automotive, construction, adhesives, architectural coatings, paper and personal care.
Conservation systems
The German-headquartered BASF is the world's leading chemical company with sales of about €73.5 billion (about Rs 4.96 lakh crore) in 2011.
It employs more than 111,000 people. BASF shares are traded on the Frankfurt, London and Zurich bourses. The plant at Dahej will employ more than 250 people, primarily in operations. With shared infrastructure and modern production systems, the site will also provide BASF technologies for conservation of energy and water. BASF India currently has 1,830 employees, nine production sites and two R&D centres.
Mr Prasad Chandran, Chairman and Managing Director, BASF India, said the location offers a favourable business environment due to the proximity to raw materials and customers.
Raw materials
With this new project, the company expects to grow its business in the north and western regions, he added.
The care chemicals facility at the new Dahej site will produce surfactants, largely for home and personal care.
The surfactants will also add value to formulation technology applications including agrochemicals, textiles and emulsion polymerisation.
BASF shares on the BSE were up two per cent at Rs 520 on Wednesday.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.