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BASF wants to increase footprint into Pakistan

November 14/2016

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.
Author:Margaret Volkova
Tags:petrochemistry, adhesives, construction, BASF, Pakistan.
Category:General News
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