The Adani Group has suspended work on a petrochemical project worth Rs 34,900 crore at Mundra in Gujarat, reported PTI, citing sources.
This can be linked with the fact that the company is focusing on resources to consolidate operations and address investor concerns following a damning report by a US-based short seller, PTI sources said.
The group’s flagship Adani Enterprises Ltd (AEL) had in 2021 incorporated a wholly-owned subsidiary, Mundra Petrochem Ltd for setting up a greenfield coal-to-PVC plant at Adani Ports and Special Economic Zone (APSEZ) land in Kutch district of Gujarat.
