BASF Group, a German chemicals giant, will build a production base in the Dushan Port economic development zone at Pinghu, a county-level city in Zhejiang province, according to a signing ceremony on Aug 1.

The investor for the project is Chemetall, a global business unit of the Coatings division of BASF. With investment of $100 million, the project is expected to be completed in 2021.

According to the agreement, BASF will build a world-leading modern production base that conforms to global standards for safety, health and environmental protection in Pinghu, providing customers with high-quality products. It will be BASF's biggest, most advanced and most environmentally friendly production base for surface treatment materials.

BASF Group is one of the Fortune Global 500 companies and a leader in the world's chemicals industry. The base in Pinghu will be a supplement for the current industrial chain at Dushan Port economic development zone, and will be a significant addition to the zone's business and investment attractions.

BASF Group agrees to set up a production base at Dushan Port economic development zone in Pinghu, a county-level city in Zhejiang province. [Photo/zjol.com.cn]