BASF aims to invest more than US$1.3bn in additional plants in China by 2014, according to a report by the Financial Times.

Asia made up 23 per cent of the German chemicals maker’s €39.6bn chemical sales in the first nine months of 2010. About half of its Asian sales are derived from China.

BASF is currently spending US$1.4bn on expanding its Nanjing joint venture with Sinopec. It is also planning to build a new plant in Chongqing, with approval expected from the authorities very soon.
An additional 2,500 workers are set to be employed in China over the next decade.