News Post
BASF and its partners place $4 billion petrochemical complex in India on hold
BASF of Germany announced that a multipurpose petrochemicals complex in India under planning with ADNOC, Adani, and Borealis AG has been placed on hold due to the ongoing global economic challenges caused by COVID-19. A statement from the company said that the pandemic effect has “led the partners to review the timing for undertaking this investment.” No new possible startup date was given at this time.
The decision to place the project hold comes after the partner’s completion of a Joint Feasibility Study that would have placed the complex at Adani’s site in Mundra, with access to a large port and a supply of renewable energy feedstock. This petrochemical complex was to be comprised of a propane dehydrogenation (PDH) plant, a polypropylene (PP) production and an acrylics value chain complex and was expected to be first plant to be fully powered by renewable energy.
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