German chemicals company BASF sets up $45 million plant

German chemical giant BASF is investing $45 million to build a production plant that will create more than 25 jobs, the company said on Wednesday (Jan 22). The new plant is part of the company's plan to expand its agricultural solutions business in Asia Pacfic, said Mr Gustavo Palerosi Carneiro, the head of BASF's agricultural solutions business in the region.The plant, which is expected to be completed by September next year (2021), will supply the company's patented crop protection products.
Around seven million litres of the product will be produced a year once the facility is fully operation. That amount is enough to cover 20 million hectares of farmland. Mr Carneiro said: "Singapore's status as a world-class logistics hub alongside its free-trade agreements with most Asia Pacific markets make it an ideal location for a facility of this nature."