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MOSCOW (MRC) -- BASF, a world’s leading
chemical producer, is identifying the need of new industrial solutions in
Pakistan in the wake of Chinese-funded infrastructure developments as the
company wants to increase its footprint into the country, its top official said,
as per GV.
"We need to work
with our prime clients, the OEMs (original equipment manufacturers) and their
partners to take advantage of the China-Pakistan Economic Corridor (CPEC)," Vice
President Asia Pacific, BASF, Jui Seng Tay told “The News International” during
his recent visit to the country.
"A lot of investment is flowing into the
country and a lot more is to come as I have heard some western OEMs are also
considering investment in Pakistan, and if true it would take the growth
sentiment of the (chemical) industry even to the next level."
BASF has
been present in Pakistan for more than four decades. Currently, it has a
production site in Karachi, while the company’s offices are located in Karachi,
Lahore, Kasur, Sialkot, and Islamabad.
Tay said the company is closely
monitoring how the foreign OEMs are shaping the chemical industry forward in
Pakistan. "As the OEMs come to Pakistan their partners would also come,
translating into additional foreign direct investment."
The official said
BASF believed in meeting their clients’ needs and providing them with custom
made solutions and the company, having huge base in China, would support the
local team in Pakistan.
"BASF provides chemicals as well as designing
solutions," the official said. "I am here to meet our industrial clients to know
what exactly they need."
Faisal Akhtar, managing director at BASF
Pakistan, said the company has been evolving and innovating since its inception
in Pakistan.
"Today, products and solutions from BASF help tackle
challenges, such as climate protection, energy efficiency, nutrition and
mobility," Akhtar said. "This is how we ensure our long-term business success
with chemistry-based solutions for almost all the sectors."
As Pakistan
grows and continues its journey towards urbanization a massive amount of
construction is needed to build housing units for the
population.
"Solutions that BASF is developing are the answers to the
growing demand for rapid and cost-efficient construction with easy maintenance
and high energy efficiency," Akhtar said.
BASF offers wide ranging
solutions to the automotive industry and is focused on driving research and
innovation to address the challenges, such as emission reduction, heat
management, e-mobility, light weight construction and fuel
efficiency.
The BASF’s country head, citing conservative estimates, said
Pakistan annually imports USD 5 billion worth of chemicals.
As MRC reported earlier,
BASF is implementing its global strategy in Asia Pacific with a set of ambitious
targets and a focus on sustainability. To achieve sales of EUR25 billion to
customers in the region by 2020, BASF’s Asia Pacific strategy "grow smartly"
outlines investments of EUR10 billion, around 9,000 new jobs, and annual savings
of EUR1 billion. Around 25% of BASF’s global R&D will be conducted in Asia
Pacific by 2020, to develop innovative solutions that address the region’s
challenges of resource efficiency, food and nutrition, and quality of
life.
BASF operates Ultramid polymerization plants in Ludwigshafen,
Germany; Antwerp, Belgium; Freeport, Texas and Sao Paulo, Brazil. In May 2015,
the company inaugurated its new Ultramid (polyamide 6 and 6/6.6) polymerization
plant at the Shanghai Chemical Industry Park in Shanghai, China. The production
of polyamide for film, textile and carpet fiber as well as for engineering
plastics applications is integrated into BASF’s global Verbund structure with
polyamide intermediates (i.e. adipic acid, anolon, caprolactam), chemical raw
materials (i.e. ammonia, cyclohexane, sulfuric acid), energy, by-product
recovery, logistics and other services. |
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