Page 53 - Plastics News July 2025

COMPANY NEWS

per annum, two sources aware of the matter num capacity on demand growth.
said. The facility is slated for commissioning by
fiscal 2028 (April 2027 to March 2028 financial Initially halted in March 2023 due to financial un-
year). certainties and allegations from US short-seller
Hindenburg Research, work on the project was
The PVC Project is expected to include capabili- resumed last year. The Adani Group has since
ties for manufacturing PVC, chlor-alkali, calcium refocused its resources, raising over USD 5 bil-
carbide and acetylene units. lion in equity and additional debt, and fully re-
paid share-backed financing.
Adani group is looking to implement the Acet-
ylene and Carbide-based PVC production pro- Financed by an SBI-led consortium, the project
cess, with environment clearance and consent will utilise acetylene and carbide-based PVC
to establish the project, having already been re- production processes.
ceived, sources said.
Also, the group's synergy benefits and availabil-
Given the current higher demand and lower sup- ity of large land parcels in Mundra, together with
ply of PVC in India, the Adani project will help access to port facilities will optimise the logis-
reduce the supply gap and import dependency. tics cost for sourcing of raw material/inventory
handling cost as well as for transportation of the
The project will pit the group against Reliance, final products to the prospective domestic and
which is currently India's largest PVC producer, overseas markets and ensure smooth ..
with an estimated capacity of around 7,50,000
tonnes per annum. They said the Adani portfolio has a proven track
record in successfully commissioning and man-
Adani's group and Mukesh Ambani's Reliance aging large-scale infrastructure and industrial
had for long moved in non-overlapping orbits, projects, encompassing areas like ports, power,
but first clean energy and now petrochemicals and logistics. It has an abundance of science and
would be sectors where they could be compet- engineering graduates, along with a well-trained
ing against each other. workforce proficient in various skills.

Sources said Adani's Mundra plant could in the Source – The Economic Times
future be expanded to 2 million tonnes per an-

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July 2025 PLASTICS NEWS 53