Refineries & Petrochemicals

BASF SE, the world’s largest chemical producer, will set up a petrochemical production hub at a cost of Rs 16,000 crore in Gujarat in a joint venture with Adani Group. On Jan 17, 2019, the two companies signed an MoU to this effect. The German company will hold the majority in the joint venture, which will invest in the “acrylics value chain.” The designated site would be at Mundra port in Gujarat and a feasibility study will be completed by the end of 2019.