BASF - the world's largest chemicals company by sales - will invest 10 billion EUR (13.5 billion USD) with partners in the Asia -Pacific region by 2020 to boost growth, with half of it to be invested in the Chinese market.
 

Albert Heuser, president and chairman of BASF China, estimated that half of the investment will be used to strengthen the capabilities of existing plants, expand research and development facilities, and launch new projects.
 

Heuser said projects will be launched in Shanghai and in some western Chinese cities to meet the growing market demand.
 

About 25 percent of the company's global R&D will be conducted in Asia Pacific by 2020, aiming to develop innovative solutions to address the region's challenges of resource efficiency, food and nutrition, and quality of life, said Martin Brudermuller, vice-chairman of the BASF board of executive directors for Asia Pacific.
 

BASF also is investing around 121 million USD to set up a world-scale production plant at the Shanghai Chemical Industry Park to produce high-performance resins and electro coatings.
 

The launch of the production line is planned for the second half of 2015 to address the increasing demand for high-quality coatings solutions in growing industries, notably the automotive industry, in Asia Pacific.
 

"The continued investment in our infrastructure and capacity demonstrates our strong commitment to supporting our customers' growing business in the automotive market in the Asia-Pacific region, particularly in China," said Peter Fischer, senior vice-president of BASF Coatings Solutions Asia Pacific. "With the new plant in place, we are able to respond to customers even quicker and further enhance our efficiency of logistics." His words were echoed by Heuser.

"We must follow our automaker customers, who are moving production facilities to the country's western area," he said.
 

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