New Delhi, 26 October 2012

German chemical major BASF today said it will invest Rs 1,000 crore to set up a new greenfield specialty chemicals manufacturing facility at Dahej in Gujarat by March 2014 to supplement existing plants and cater to expand business in various sectors such as automotives, paints, paper, home care and life style.

According to BASF India Chairman and MD Prasad Chandran, the company has started the construction in April this year and the plant will be operational by March 2014.Besides the domestic market, the plant will export chemicals to other countries in Asia.

The firm today showcased a concept car jointly developed with German auto major Daimler with an advanced technology and energy efficient light weight design. BASF India registered a revenue of Rs 7,500 crore in 2011 with a jump of 20% over the previous year. The company has employees 2,300 employees in India.