BASF to invest Rs. 380 crore in new R&D centre.

Chemicals company BASF plans to invest €50 million (about Rs. 380 crore) to set up an innovation campus at its existing plant in Navi Mumbai. The research and development centre will employ 300 scientists when it becomes fully operational by the end of next year.

The company currently has one R&D centre at Chandivli in Mumbai with 50 scientists and another start-up centre at its plant in Navi Mumbai. All the research work would be consolidated at the new facility being built.

Martin Brudmuller, Vice-Chairman, Board of Executive Directors, BASF SE, said the innovation campus would host global research besides providing solutions in crop protection, process development and polymer research.

'We were very impressed with the talent pool available in India. The start-up lab at the factory has already created its first patent. Globally, the company has filed for 1300 patents last year,' he said.

The company recently announced the second phase investment of €90 million at its Shanghai facility which was started in 2012.

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