Adani Group to foray into petrochemicals via joint venture with BASF at the Mundra Port

January 17, 2019

Taking a major leap in petrochemicals, Adani group has announced a joint venture with the German major BASF worth INR 16000 crore for manufacturing plants of acrylic value at the former Mundra’s port in Gujarat.

India is a large importer of petrochemicals, therefore it leads significant outflow of precious foreign exchange. The chemical site at Mundra would the company’s first CO2 neutral production site. The Adani and BASF SE has jointly developed an overall plan including new technologies and the supply of the site with 100% renewable energy. A new site of acrylics value chain will provide the customers with high-quality chemicals. The ability to develop renewable power intends to minimize the negative impact on the environment.

Source : Business Standard