Adani partners UAE’s Adnoc, Germany’s BASF for $4 bn chemical venture

Times of India | Oct 17, 2019 at 12:42 PM
  • New Delhi, Oct 17 () Billionaire Gautam Adani-run Adani Group has forged a partnership with UAE’s oil firm Adnoc, German chemical giant BASF and Austria’s Borealis to study the feasibility of setting up a USD 4 billion chemical complex at Mundra in Gujarat by 2024.
  • In January this year, Adani Group had announced plans to set up a Rs 16,000 crore chemical factory at Mundra in partnership with BASF.
  • The products produced would be predominantly for the Indian market to serve a wide range of local industries, including construction, automotive and coatings, whose growing demand is currently supplied via imports.