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MarketScreener Homepage  >  Equities  >  Xetra  >  BASF SE    BAS   DE000BASF111

BASF SE

(BAS)
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Real-time Quote. Real-time Tradegate - 11/21 12:28:42 pm
69.505 EUR   -0.11%
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BASF : Chemical company BASF evaluates new $4bn complex in India

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10/17/2019 | 07:47am EST

Frankfurt, Germany, Oct 17 (EFE).- German chemicals company BASF is studying a potential joint venture worth about $4 billion to build a new plant in India, according to a press release Thursday.

BASF said it has signed a Memorandum of Understanding with the Abu Dhabi National Oil Company (ADNOC), the Adani Group and Borealis AG to further study the option of constructing a new chemical complex in Mundra, India.

"The collaboration includes evaluating a joint world-scale propane dehydrogenation (PDH) plant to produce propylene based on propane feedstock to be supplied by ADNOC," the press release said.

"The designated site is planned at Mundra port in Gujarat, India, and the products are predominantly for the Indian market, serving a wide range of local industries, including construction, automotive and coatings."

It said the complex would be powered entirely by renewable energy resources.

"If realized, this would be the world's first CO2-neutral petrochemical site to be fully powered by renewable energy, fully in line with the partners' commitment to sustainability and energy efficiency."

Dr. Martin Brudermueller, BASF-SE's chairman of the board of directors said: "BASF remains committed to investing in India's growth."

"We look forward to working together with our partners in establishing a chemical cluster in Mundra and to supplying the Indian market with high-quality downstream products."

The partners said they want to complete the investigation stage by the end of the first trimester next year and begin construction in 2024.EFE

© 2019 EFE News Services (U.S.) Inc., source EFE Ingles

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Financials (EUR)
Sales 2019 61 932 M
EBIT 2019 4 760 M
Net income 2019 9 159 M
Debt 2019 18 605 M
Yield 2019 4,67%
P/E ratio 2019 6,99x
P/E ratio 2020 17,7x
EV / Sales2019 1,33x
EV / Sales2020 1,28x
Capitalization 63 908 M
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Mean consensus HOLD
Number of Analysts 26
Average target price 67,22  €
Last Close Price 69,58  €
Spread / Highest target 26,5%
Spread / Average Target -3,39%
Spread / Lowest Target -22,4%
EPS Revisions
Managers
NameTitle
Martin Brudermüller Chairman-Executive Board & CTO
Jürgen Hambrecht Chairman-Supervisory Board
Hans-Ulrich Engel CFO & Vice Chairman-Executive Board
Michael Diekmann Vice Chairman-Supervisory Board
François Diederich Member-Supervisory Board
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