Chemicals major, BASF India Ltd will set up a chemicals production unit at Dahej with an estimated cost of Rs 1,000 crore, the company informed on Wednesday.
In a statement filed with the Bombay Stock Exchange (BSE), the company informed that the board of directors of the company at its meeting held on April 11, 2012, has approved the proposal for setting up of a new chemical production site at Dahej, India. The commercial production from the plant is scheduled for 2014. "The total cost of the setting up of site is estimated to be Rs 1,000 crore and the same will be financed through internal accruals and loans," the company stated. The manufacturing unit will employ more than 250 people at full capacity, primarily in operations.
The new production facility will help BASF to ensure local supply for growing markets and industries such as appliances, footwear, automotive, construction, adhesives, architectural coatings, paper and personal care.
"The new site will be an integrated hub for polyurethane manufacturing and will also house production facilities for care chemicals and polymer dispersions for coatings and paper," it said.
The company currently manufactures tanning agents, crop protection chemicals, textile chemicals and automotive and coil coatings, construction chemicals, among others.
