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Business

November 6, 2016

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BASF wants to increase footprint into Pakistan

BASF wants to increase footprint into Pakistan

KARACHI: BASF, a world’s leading chemical producer is identifying the need of new industrial solutions in Pakistan in the wake of Chinese-funded infrastructure developments as the company wants to increase its footprint into the country, its top official said.

“We need to work with our prime clients, the OEMs (original equipment manufacturers) and their partners to take advantage of the China-Pakistan Economic Corridor (CPEC),” Vice President Asia Pacific BASF Jui Seng Tay told The News during his recent visit to the country.

“A lot of investment is flowing into the country and a lot more is to come as I have heard some western OEMs are also considering investment in Pakistan, and if true it would take the growth sentiment of the (chemical) industry even to the next level.” 

Ludwigshafen, Germany-based BASF manufactures fiber intermediates, nylon and melamine fibers, resins and finishing compounds in addition to offering industrial designs.

BASF has been present in Pakistan for more than four decades. Currently, it has a production site in Karachi, while the company’s offices are located in Karachi, Lahore, Kasur, Sialkot, and Islamabad.

The company employs 100,000 people at its more than 300 production sites worldwide. 

Tay said the company is closely monitoring how the foreign OEMs are shaping the chemical industry forward in Pakistan. “As the OEMs come to Pakistan their partners would also come, translating into additional foreign direct investment.”

The official said BASF believed in meeting their clients’ needs and providing them with custom made solutions and the company, having huge base in China, would support the local team in Pakistan.

“BASF provides chemicals as well as designing solutions,” the official said. “I am here to meet our industrial clients to know what exactly they need.”

Faisal Akhtar, managing director at BASF Pakistan said the company has been evolving and innovating since its inception in Pakistan. 

“Today, products and solutions from BASF help tackle challenges, such as climate protection, energy efficiency, nutrition and mobility,” Akhtar said. “This is how we ensure our long-term business success with chemistry-based solutions for almost all the sectors.”

As Pakistan grows and continues its journey towards urbanisation a massive amount of construction is needed to build housing units for the population. 

“Solutions that BASF is developing are the answers to the growing demand for rapid and cost-efficient construction with easy maintenance and high energy efficiency,” Akhtar said.

BASF offers wide ranging solutions to the automotive industry and is focused on driving research and innovation to address the challenges, such as emission reduction, heat management, e-mobility, light weight construction and fuel efficiency.

The BASF’s country head said huge quantity of chemicals is being imported.  Undervaluation is depriving the government of revenue, while local manufacturers are denied of a level-playing field.

Akhtar, citing conservative estimates, said Pakistan annually imports five billion dollars of chemicals.

He said electricity shortage is another challenge facing the industry. “We provide chemicals and raw material to almost all the industries, and a lot of industrial units are out of production or not operating at their optimum,” he added. “Had there been no electricity shortage our business would have expanded many times in Pakistan.”

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