BASF to Increase Asian Investment


BASF is planning to expand its presence in Asia by investing €2.3bn ($3.1bn) over the next five years.

The chemical major is planning to expand chemical production in Malaysia and China.

BASF could also invest €1bn ($1.3bn) in a joint venture with Petronas in Malaysia and $1bn in a joint venture with Sinopec in Nanjing, China.

The company has confirmed that Korea remains an important production base despite its focus on the Chinese market.

BASF reported sales of €12.5bn in the Asia-Pacific region, up 46% from a year before, according to koreaherald.com.