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
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
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
Financial terms were not disclosed.