Abu Dhabi National Oil Company (ADNOC) and Germany\u2019s Borealis may acquire stakes in the BASF-Adani proposed petrochemicals venture in India. In January this year, BASF and Adani announced a petrochemicals project in Mundra, Gujarat, entailing an investment of Rs 16,000 crore.<\/p>\n
With Abu Dhabi and Borealis coming into the venture and the project looking at widening its product portfolio, the investment has shot up by 75% to Rs 28,000 crore. BASF will be the majority shareholder in the fourway partnership, paying the maximum amount of the investment bill. This will also be BASF\u2019s biggest investment in Asia\u2019s thirdlargest economy till date.<\/p>\n
\u201cBASF remains committed to investing in India\u2019s growth. We will play a key role in driving this joint collaboration which is also pioneering in terms of sustainability,\u201d said Martin Bruderm\u00fcller, chairman of the 63-billion-euro company.<\/p>\n
There is no clarity on the exact shareholding structure of the four parties in the project, which would be the world\u2019s first to be fully powered by renewable energy. With the inclusion of Abu Dhabi and Borealis as partners, the parties are examining \u201cvarious structuring options\u201d for the chemical site that will \u201cleverage the technical, financial and operational strengths of each company,\u2019\u2019 the quartet said in a joint release.<\/p>\n
The Mundra plant will produce propylene from propane gas to be supplied by Abu Dhabi. Some of the propylene production will be supplied to Abu Dhabi and Borealis\u2019 joint venture and the balance will be used by BASF and Adani. BASF and Adani, which also have a separate partnership, will use propylene to make enhanced chemical products for use in construction, automotive and coatings industries.<\/p>\n","protected":false},"excerpt":{"rendered":"
Abu Dhabi National Oil Company (ADNOC) and Germany\u2019s Borealis may acquire stakes in the BASF-Adani proposed petrochemicals venture in India. In January this year, BASF and Adani announced a petrochemicals project in Mundra, Gujarat, entailing an investment of Rs 16,000 crore. With Abu Dhabi and Borealis coming into the venture and the project looking at widening its product portfolio, the investment has shot up by 75% to Rs 28,000 crore. BASF will be the majority shareholder in the fourway partnership, paying the maximum amount of the investment bill. This will also be BASF\u2019s biggest investment in Asia\u2019s thirdlargest economy till […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[133],"tags":[],"class_list":["post-296918","post","type-post","status-publish","format-standard","hentry","category-oil-gas"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/296918","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=296918"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/296918\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=296918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=296918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=296918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}