$4 billion! Four chemical giants plan to build new chemical base in India

On October 17th, the Abu Dhabi National Petroleum Corporation (ADNOC), Adani Group (Adani), BASF and Borealis signed a memorandum of understanding to participate in a joint feasibility study to further assess cooperation in the construction of a chemical complex in Mondra, Gujarat, IndiaThis is the next step in the investment plan announced by BASF and Adani in January 2019The total investment is estimated at $4 billionthis partnership includes the evaluation of the joint venture's world-class propane dehydrogenation (PDH) plant, which produces propylene based on propane raw materials supplied by ADNOCSome propylene will be used as raw material for polypropylene (PP) complexesThe remaining acrylic will be a key raw material for the previous BASF-Adani joint venture acrylic value chain complexProducts from this complex include ice acrylic (GAA), Oxo-C4 (butanol and 2-ethyl hexanol), acrylates (BA) and other downstream productspartners aim to complete a joint feasibility study by the end of the first quarter of 2020Production is scheduled to begin in 2024the chemical complex plan is provided entirely by renewable energy sourcesPartners are evaluating joint investments in wind and solar parks, and the program is in the late stages of developmentIf implemented, it would be the world's first petrochemical plant powered entirely by renewable energy, in full compliance with the partner's commitment to sustainability and energy efficiency