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Adani to Collaborate with Indorama for Petrochemical Venture

The first phase will be targeting 1 million tons by 2026. The second phase will have an equal capacity by early 2027. However, the construction phase for this project was delayed because of the allegations of the Adani Fraud Case set by the US-based short seller Hindenburg Research. It accused the Adani Group of stock manipulation and account fraud allegations.

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Adani to Collaborate with Indorama for Petrochemical Venture

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  1. ADANI TO COLLABORATE WITH INDORAMA FOR PETROCHEMICAL VENTURE

  2. The Adani Group has recently taken up the decision to collaborate with Indorama on a new petrochemical venture in Thailand. Now this is the first time the Adani Group has decided to take up a venture in Thailand. It will not only help the Adani Group in further strengthening its hold over the petrochemical sector but the business group will also be able to further expand its international boundaries and diversify its business. It will also allow the Adani Group’s business to reach new heights. The global business group will also be able to put a stopper to the controversies of Adani Fraud Case.

  3. ADANI’S PARTNERSHIP WITH INDORAMA RESOURCES LIMITED The Adani Group which is led by the global business tycoon Gautam Adani has recently partnered with Indorama Resources Limited of Thailand to venture into the petrochemical sector. With this collaboration, the Adani Group aims to further extend its territories beyond its existing ports-to-energy operations. It also aims to rise above the allegations of the Adani Fraud Case. Adani Petrochemicals Limited which is a subsidiary of the flagship company of the Adani Group, Adani Enterprises Limited, has recently established a joint venture named Valor Petrochemicals Limited (VPL) with Indorama Resources.

  4. ADANI’S OTHER PLANS FOR THE PETROCHEMICAL SECTOR Gautam Adani had already expressed his plans to invest over 4 billion USD in the petrochemical complex in Gujarat. With this step, he will be able to turn his dream into reality. The initial project would involve constructing a polyvinyl chloride plant having a capacity of 2 million tons. This project will be developed in phases. The first phase will be targeting 1 million tons by 2026. The second phase will have an equal capacity by early 2027. However, the construction phase for this project was delayed because of the allegations of the Adani Fraud Case set by the US-based short seller Hindenburg Research.

  5. The PVC plant is a part of the petrochemical cluster which was developed in Mundra, Gujarat. This facility is going to be the largest PVC manufacturing site in India. It would involve an estimated cost of INR 35,000 crore. In addition to the PVC plant, the Adani Group also plans to incorporate wind and solar power plants to meet its energy demands. This highlights the Adani Group’s enhanced focus on sustainability. With this step, the Adani Group will be able to ensure that the various operations of the petrochemical sector get carried out without adversely impacting the environment. Previously, the Adani Group had come into a collaboration with German chemical company BASF to establish a chemical factory. However, there isn’t much news on the current state of the collaboration.

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