BASF Plans EUR3.5 Billion Investment in Asia-Pacific

By Sarah Sloat

FRANKFURT--BASF SE (BAS.XE) said on Friday it would invest roughly 3.5 billion euros ($3.9 billion) in Asia-Pacific by 2020, with chemical production there continuing to outgrow other regions despite a slowdown in China.

"China did not grow as fast as we assumed," BASF said, but "even under the 'new normal,' Asia-Pacific is the growth engine for the world economy."

The German chemicals company estimates the annual growth rate for chemical production in Asia-Pacific at 5.6% through 2020, above a global average of 3.7%.

BASF said it would focus on investing in areas offering robust market growth and where the company had a technological or competitive advantage. The EUR3.5 billion investment volume is earmarked for 2016 to 2020.

Write to Sarah Sloat at sarah.sloat@wsj.com

(END) Dow Jones Newswires

September 23, 2016 08:29 ET (12:29 GMT)

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