Adani partners UAE’s Adnoc, Germany’s BASF for $4 billion chemical venture
NEW DELHI: Billionaire Gautam Adani-run Adani Group has forged a partnership with UAE’s oil firm Adnoc, German chemical giant BASFNSE 3.10 % and Austria’s Borealis to study the feasibility of setting up a USD 4 billion chemical complex at Mundra in Gujarat by 2024.
The four firms have signed a memorandum of understanding (MoU) to “engage in a joint feasibility study to further evaluate a collaboration for establishment of a chemical complex in Mundra, Gujarat,” the companies said in a statement.
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.
