German chemical company BASF ( Badische Anilin- & Soda-Fabrik) opened its first nanotechnology research center in Asia in Singapore Friday.

The world's leading chemical company said in a statement Friday that it will invest 13 million Euros (about 16 million U.S. dollars) in the new center in the next three years.

The Competence Center for Nanostructured Surfaces, located at Singapore's Science Park, will concentrate on nanostructured surface modification, which is expected to help keep ship hulls clean and reduce fuel costs.

Calling the facility "a third pillar" in addition to production and marketing services, the company said that it is considering conducting the photovoltaic cell research activities here as the second step, according to Channel NewsAsia report.

Founded in 1865, BASF has 17 development sites in the Asia- Pacific region and plans to spend some 180 million Euros (about 223 million U.S. dollars) in nanotechnology research worldwide between 2006 and 2008.

Source: Xinhua