The Adani Group has partnered with Thailand's Indorama Resources Ltd to enter the petrochemical sector. This collaboration has led to the formation of a joint venture called Valor Petrochemicals Ltd (VPL), with both companies holding equal stakes of 50%.
The new JV is aimed at establishing a refinery and petrochemical complex in India.
The JV company, Valor Petrochemicals Ltd, is formed by Adani Petrochemicals Ltd (a subsidiary of Adani Enterprises Ltd) and Indorama Resources Ltd. With this, Adani Group aims to become a major player in India's petrochemical sector.
Key Details:
Project Location: The 000 project is a 2 million tonnes PVC plant in Mundra, Gujarat.- Phases:
- Phase I: Development of a 1 million tonnes PVC plant by 2026.
- Phase II: Development of an additional 1 million tonnes PVC plant by early 2027.
Additionally, the JV also plans to develop a 3.2 million tonne Purified Terephthalic Acid (PTA) plant in Maharashtra.
Investment: The total cost of the project is estimated to be around Rs 35,000 crore (approximately USD 4 billion).
Future Expansion: Potential for additional projects in the Mundra region.
Sustainability: The plant will incorporate renewable energy solutions, including wind and solar power, to meet its electricity needs.
This partnership marks a significant step for Adani Group as it expands into the petrochemical industry, aiming to become a major player in India's petrochemical sector.
Indorama Resources' expertise and global reach make it a valuable partner in the petrochemical industry.
Indorama Resources Ltd is a global leader in the production of essential materials, including polymers, fibers, and yarns. It produce a wide range of products, including polyolefins, PET resins, fibers, yarns, polyester, cotton fiber, spandex, spun yarn, and medical gloves.
Indorama Ventures has several production facilities in Thailand, producing integrated polyester products, fibers, and other petrochemicals. The company operates in multiple countries, including the United States, Europe, and Africa, with facilities producing various petrochemical products.
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