efe-epaFrankfurt, Germany

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.