Thursday, 17 October 2019

UAE, German companies may back BASF-Adani JV

Abu Dhabi National Oil Company and Germany's Borealis may acquire stakes in the BASF-Adani proposed petrochemicals venture in India. In Jan this year, BASF and Adani announced a petrochemicals project in Mundra, Gujarat, entailing an investment of Rs 16,000 cr. With Abu Dhabi and Borealis coming into the venture, the investment has shot up by 75% to Rs 28,000 crore.

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