BASF unveils Asia-Pacific investment plan

BASF SE - the world's largest chemicals company by sales - will invest 10 billion euros ($13.5 billion) with partners in the Asia-Pacific region by 2020 to boost growth, with half of it to be invested in the Chinese market.

Albert Heuser, president and chairman of BASF China, estimated that half of the investment will be used to strengthen the capabilities of existing plants, expand research and development facilities, and launch new projects.

A source at the German company said the company will be responsible for collecting about 80 percent of the funds, with the rest raised by its partners.