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

ADNOC, Adani, BASF and Borealis signed a memorandum of understanding to participate in a joint feasibility study to further assess cooperation to establish a chemical complex in mondra, Gujarat, India. This is the next step in the investment plan announced by BASF and Adani in January 2019. The total investment is estimated at $4 billion. This cooperation includes the evaluation of the joint venture world-class propane dehydrogenation (PDH) plant to produce propylene based on propane feedstock provided by ADNOC. Part of propylene will be used as raw material for polypropylene (PP) composites. The remaining propylene will become the key raw material of the acrylic acid value chain integrated plant previously established by BASF and Adani. The products of this complex include glacial acrylic acid (GAA), oxo-c4 (butanol and 2-ethylhexanol), butyl acrylate (BA) and other downstream products. The goal of the partner is to complete the joint feasibility study by the end of the first quarter of 2020. Production is scheduled to start in 2024. The chemical complex is planned to be fully provided by renewable energy. Partners are evaluating joint investments in wind and solar parks, which are currently in the late stages of development. If it does, it will be the first petrochemical plant in the world to be fully powered by renewable energy, which is fully in line with partners' commitment to sustainability and energy efficiency.