BASF looks to invest billions in Asia

The world's biggest chemical firm, BASF, will invest more than €2 billion ($2.6 billion) in Asia by 2014, with more than half the sum earmarked for China, a senior executive said on Monday.

BASF looks to invest billions in Asia
Photo: DPA

BASF will invest “two-billion plus euros” into some 100 Asian sites, board member Martin Brudermüller told the Financial Times in an interview, at least half of which would flow into China.

“We are certainly in discussions about building new plants in Asia,” Brudermüller added. “If you want to keep the growth pace you have to invest.”

In the first nine months of this year, Asia accounted for 23 percent of BASF’s sales, which totalled €39.6 billion.

About half of the Asian sales came from China, now the group’s third largest market, the FT reported.

In the past 20 years, the German chemical giant has invested €3.5 billion in China, more than 20 percent of all German direct investment in the country, it added.


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Germany toughens China travel warning over ‘invasive’ Covid tests

Germany has toughened its advisory against travel to China, warning that travellers could be placed under hospital quarantine for weeks upon arrival and subjected to "invasive" medical tests even if they have previously recovered from the coronavirus.

Germany toughens China travel warning over 'invasive' Covid tests
A plane flying from Frankfurt airport. Photo: DPA

In its latest travel advisory update, the Foreign Ministry said that the stringent measures were imposed on “people cured of Covid-19”, as well as others who test positive for antibodies because of an undetected illness, or others who had arrived on the same flight and who test positive for the coronavirus.

“Medical measures applied by the Chinese side are invasive and include in part daily blood tests and computer scans,” the Foreign Ministry said.

All travellers arriving in China are required to serve a 14-day quarantine at a location determined by the government.

While small children are “as a rule” allowed to spend their quarantine with their parents, those aged 14 years and up can be placed in isolation away from their family.

The Süddeutsche newspaper reported that the ministry had heightened its warning after two German nationals were held in hospital quarantine for several weeks.

Both had recovered from the coronavirus previously and had tested positive for antibodies, added the report, noting that they were nevertheless forced to undergo medical tests.

The newspaper said the Foreign Ministry had filed protests with the Chinese government over how the two Germans were treated.