Indian Economy News

BASF India starts work on R&D centre in Navi Mumbai

  • Livemint" target="_blank">Livemint
  • December 11, 2014

Mumbai: The world's second largest specialty chemicals maker BASF SE announced on Wednesday that its Indian subsidiary BASF Chemicals Pvt Ltd has started work for setting up its new research and development (R&D) centre in Navi Mumbai.

The R&D centre is being set up with an investment of approximately Rs.380 crore (€50 million) , the company said in a release.

It will be a hub of BASF's global R&D network, and it will be BASF's second major R&D location in Asia Pacific after Shanghai, the firm said.

BASF Innovation Campus (Mumbai) is expected to be operational in 2017 and will investigate areas such as crop protection, process development and polymer research.

BASF aims to locate 25% of its global R&D employees in Asia Pacific by 2020, the firm said. Three hundred scientists will collaborate in Mumbai on global and regional research and development projects, it said.

The company has 2,254 employees in India at eight production sites and sales offices as well as two R&D centres. In 2013, BASF registered sales of €1.02 billion to customers in India, it said in the release.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

Partners
Loading...