Adani Group’s company has set up a joint venture, Valor Petrochemicals Ltd, with the Thai company Indorama Resources. This was shared with the exchange on Monday. Adani Enterprises’ subsidiary, Adani Petrochemicals Limited, and Indorama Resources have created a joint venture where both have equal stakes. This new unit will handle the refinery, petrochemical, and chemical business. Indorama Ventures Public Company Limited is one of the largest petrochemical companies in the world.
So, what will Valor Petrochemicals Ltd do?
According to the information provided by Adani Enterprises, this joint venture, Valor Petrochemicals Ltd, will manage the refinery, petrochemical, and chemical business.
They are looking to set up a purified terephthalic acid plant with a capacity of 3.2 million tons in Maharashtra. Currently, a $3 billion investment is planned. This joint venture may also operate in Mundra in the future.
