New Delhi:
Adani Group is now going to enter the petrochemical sector. The group led by veteran industrialist Gautam Adani has entered into a partnership with Thailand’s Indorama Resources Ltd. Subsidiary company of Adani Enterprises Ltd Adani Petrochemicals Limited has started a joint venture with Indorama Resources Limited, which has been named Valor Petrochemicals Limited (VPL). Adani Petrochemicals and Indorama will have 50-50 percent stake in this joint venture.
Adani Group has taken this step with the aim of expanding in this field besides business related to ports and energy sector.
The first task of Valor Petrochemicals (VPL) is to establish refinery, petrochemical and chemical business. Adani Petrochemicals, which was set up to develop refineries, petrochemical complexes, specialty chemical units and hydrogen plants, plans to launch these projects in multiple phases.
Target to develop 1 million ton PVC plant by 2026
Adani Group Chairman Gautam Adani had said in 2022 that Adani Group wants to invest more than $ 4 billion in a petrochemical complex in Gujarat. The company’s first project is of 2 million tonne PVC (polyvinyl chloride) capacity, construction of which will be done in a phased manner. Will be done in the right manner. Whereas in the first phase, 1 million tonne PVC plant will be developed by 2026. After that, in the second phase, a unit of similar capacity will be commissioned in the beginning of 2027.
Expected to be India’s largest PVC manufacturing facility
Adani Petrochemicals is developing a petrochemical cluster in Mundra, Gujarat, which also includes a PVC plant. This plant, the total cost of which is estimated to be around Rs 35,000 crore, is expected to be India’s largest PVC manufacturing facility.
Adani Group had earlier also partnered with German chemical giant BASF to set up a chemical factory in Mundra, Gujarat, but there is no information about the future of that partnership. The factory will also have wind and solar power plants to meet the electricity needs.
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