Page 18 - Plastics News February 2019

CompAny news

Adani to foray into petrochemicals

illionaire Gautam Adani-led Adani Group announced comprises the development, construction and operation
Ba partnership with German chemical giant BASF for a of production plants including propane dehydrogenation
Rs 16,000-crore factory that will mark its foray into the (PDH), oxo C4 complex (butanols and 2-ethyl hexanol),
petrochemicals sector which is currently dominated by glacial acrylic acid (GAA), butyl acrylate (BA) and
Mukesh Ambani-run Reliance Industries. Adani Group and potentially other downstream products. "The products are
BASF will set up a chemical factory at Gujarat's Mundra predominantly for the Indian market to serve a wide range
district, besides putting up wind and solar power plant of local industries, including construction, automotive and
at the site to meet the electricity requirement of the coatings, whose growing demand is currently supplied via
unit, the two companies said in a statement. BASF will imports, thus supporting the 'Make in India' initiative," the
hold a majority controlling stake in the new venture. statement said.
It will, however, hold a minority interest in the power
Niagara building bottling plant
in Texas

iagara Bottling LLC will spend $90 million on a
Nnew bottled water plant in Texas. Niagara Bottling
LLC has picked Seguin, Texas, as the site for a new
557,000-square-foot bottling factory the company is
building just east
of San Antonio.The
Seguin Economic
venture. Reliance is the market leader in the Indian Dev el o pment
petrochemical sector and this will be the first time Corp., the City
that the two billionaires hailing from Gujarat will be in of Seguin and
direct competition in any business.The oil-to-telecom G u a da lu pe
conglomerate Reliance in January 2018 completed a County made the
massive USD 16 billion expansion of its petrochemical announcement
production capacity to enter the league of the top five rece n t ly .The
producers globally.While Ambani's firm produces products Southern California company will break ground on
for a range of applications -- packaging, agriculture, the bottling facility in July. The $85 million bottling
automotive, housing, and healthcare among others, the plant will be constructed on 30.77 acres of land at the
Adani-BASF combine will manufacture chemicals that intersection of Rio Nogales Drive and Eighth Street.
will find application in construction, automotive and Niagara expects the plant to be completed by early
coatings businesses.BASF SE and Adani Group signed a 2016. The company initially will hire 75 workers during
Memorandum of Understanding (MoU) on the eve of the the first phase of development and could hire more
Vibrant Gujarat Global Summit 2019 "to evaluate a major during a second phase. Guadalupe County approved a
joint investment in the acrylics value chain", the joint five-year partial property tax abatement and the Seguin
statement by the two firms said. This would be BASF's Economic Development Corp. approved a land-grant
largest investment in India to date, it said without giving incentive worth $985,900. Over the five-year period,
details. A feasibility study will be completed by the end the city, county and school district are still expected to
of 2019. "According to the MoU, BASF and Adani want to receive over $6 million in new property tax revenue, net
establish a joint venture with an investment totaling about of the tax abatement.Niagara produces single-serve,
Euro 2 billion (about Rs 16,000 crore), in which BASF will private label bottled water to grocery, club store,
hold the majority," it said. The companies did not give convenience and wholesale customers throughout the
details of the joint venture. The potential investment United States.

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