Germany's BASF group, the world's biggest chemical producer, forecasts it will reach a turnover of 557m-euros on the Romanian market this year, with its two units (industrial and oil and gas), a 60% increase on last year's results, due to expansion and economic growth.

"This year, we expect the turnover to go up by around 60% owing to Romanian market opportunities and the expansion of our activity portfolio. Last year, turnover on the industrial segment reached 60m euros, accounting for a 63% increase. For BASF, this turns Romania into 'the rising star' of Europe," Herbert Frankenstein, manager of the Business Centre for Central Europe at BASF, told ZF.

Based on the 60% growth rate announced by the company, the Germans' turnover on the segment of industrial products is estimated to reach 100m euros this year.

Whereas the industrial product unit contributes less than 10% to the company's turnover, the oil and gas unit, WIEE Romania, boasts the biggest percentage, having generated turnover worth 497m euros last year. WIEE Romania is the domestic subsidiary of Germany's Wintershall company set up as a joint venture between BASF and Gazprom Russian group.

BASF yesterday launched its first production facility in Romania, in Ploiesti, which makes concrete additives, an investment of 2m euros. "Romania is boasting promising growth rates, particularly in the constructions industry, which is our main target. Ploiesti was chosen as a location due to its position, allowing us to distribute products across Romania and in the vicinity of Bucharest," says Harald Pflanzl, BASF manager of the adhesives unit for Northern Europe.

The construction of the plant, lab and offices started in June 2006 and ended in June 2007.

The plant has a production capacity of 5,000 tonnes per annum in a single shift, but plans to raise its capacity, either by adding