The global construction and allied chemicals manufacturer BASF and the Adani Group have signed a deal to set up a ₹14,000-crore petrochemicals plant in Mundra for manufacturing chemicals widely used in industries like construction, automotive and coatings. The plant will produce chemicals, which are now being imported; this will be a big step forward under the ‘Make in India’ initiative. This is BASF’s largest investment in India to date. The two companies will start building the project after completing the feasibility study. CEO of Adani Ports and SEZ, Karan Adani said that the plant would be its first carbon-neutral production facility, and the two companies have developed a plan to include new technologies and 100% renewable energy in the plant, for which BASF will further invest as a minority partner in a wind and solar park.
📅Published on:
18 January 2019
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