Views: 4 Author: Site Editor Publish Time: 2019-03-18 Origin: Site
Sinochem New Network News BASF Europe has signed a memorandum of understanding with the Indian Adani Group to evaluate the acrylic acid value chain for joint investment. This will be BASF's largest investment project in India, located in the port of Mondela, Gujarat. The project feasibility study will be completed by the end of 2019.
According to the memorandum of understanding, BASF and Adani are considering establishing a joint venture company with a total investment of 2 billion euros. BASF will hold a controlling stake. This potential investment project includes the development, construction, and operation of production facilities, including propane dehydrogenation (PDH) plants, butanol units, refined acrylic acid, butyl acrylate, and other downstream products.
These products are mainly used to meet the local market demand in India, involving construction, automotive and paint industries. The new demand in these industries is currently dependent on imports, and the project will support the \"Made in India\" initiative.