"We want to shape the future of Asia with our chemistry," Jurgen Hambrecht, BASF's chairman, told reporters.

The US$2.9 billion (euro2.4 billion) Nanjing plant, a 50-50 joint venture with China's Sinopec Petrochemical Co., is BASF's biggest single investment in its 140-year history. ...

Hambrecht commented on this factor, saying that 'migration of manufacturing plants from Europe is happening, and we will be able to supply (chemicals to) the customers who move out.'

Germany-based BASF said it has invested 5.6 billion euros (US$6.7 billion) in Asia since 1990. It plans to spend another euro1 billion (US$1.2 billion) in the region by 2009.

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