Indian multinational conglomerate Adani group, after dominating the energy, agriculture, real estate and other sectors is now all set to make a grand debut with petrochemicals. Adani is partnering with BASF a chemical giant operating in chemicals, plastics, oil and gas among other segments. The two giants are establishing a joint venture where BASF will hold majority of shares. A memorandum of understanding is signed between the two to invest around two billion euros in acrylics value chain in India. Site studies will start soon at Mundra port in Gujarat, India. BASF and Adani are looking at Mundra port as a potential site to create a chemical hub in India. Production for oxo C4 complex (butanols and 2-ethylhexanol), glacial acrylic acid (GAA), butyl acrylate (BA) and propane dehydrogenation (PDH) is expected to be undertaken at this facility.
This project will prove to fulfill both industrial and philanthropic aims of these two global players. Dr Martin Brudermüller, BASF Chairman, stated his purpose very clearly saying that “BASF’s intention to invest in a major new site for the acrylics value chain in India clearly demonstrates our strong and long-term commitment to our Indian customers. “Together with the Adani Group, we would have the opportunity to provide our customers with high-quality chemicals and support them in growing their business. This facility aims to support and be supplier to various industries in the construction, automotive and the coatings sector. Adani is known for their sustainability goals and together with BASF they wish to strengthen it by provides job opportunities and taking measures to curb harmful effects on the environment. This plant is going to BASF’s first energy positive plant. It will be CO2 neutral and run 100% on renewable energy. Looking the production capacity and investment, this is a very challenging job these two companies have taken up. This initiative is also designed in support of the ‘Make in India’ movement.