BASF taps Toyo as Asia-Pacific engineering partner for petrochemicals work
Toyo Engineering has reached a comprehensive engineering partnership agreement with BASF for the Asia-Pacific region, the companies announced on Friday.
The three-year agreement covers basic engineering, detailed engineering, procurement, construction management, and other project-related services in the region's petrochemical and chemical sectors.
Toyo said the deal was struck based on the confidence BASF has in Toyo through projects managed by BASF and its affiliates in Malaysia and China for 15 years.
In addition, BASF said it appreciated Toyo's "engineering competence and cost competitiveness exhibited in projects carried out in Southeast Asia".
Toyo, with affiliates such as Toyo-China, Toyo-India and Toyo-Malaysia, will provide BASF with customized services.
Toyo added that it would work to reduce BASF's investment costs and schedule lead time by participating in projects from the planning stages.
Financial terms were not disclosed.
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