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Joint Feasibility Study for a chemical complex in India completed, project put on hold due to COVID-19 pandemic

As part of a four-party Memorandum of Understanding (MoU), signed on October 4, 2019, Abu Dhabi National Oil Company (“ADNOC”), Adani Group (“Adani”), BASF SE, Germany (“BASF”) and Borealis AG (“Borealis”), (jointly referred to as “Partners”) have completed a Joint Feasibility Study for a chemical complex in Mundra, India. The project study comprised a world-scale propane dehydrogenation (PDH) plant, a polypropylene (PP) production and an acrylics value chain complex. The planned location at Adani’s Mundra site would enable access to a world-class port and renewable energy supply.

The global economic uncertainties caused by the pandemic have led the Partners to review the timing for undertaking this investment. Despite all attempts to optimize the scope and the configuration, the project has been put on hold.

The Partners remain convinced about the strong fundamentals represented by the Indian market and agreed to periodically explore market conditions and discuss any opportunity that may arise over time.


Media contacts:

Borealis
External Communications
Virginia Mesicek
Phone: +43 1 22 400 772
Email: virginia.mesicek@borealisgroup.com

BASF
Corporate Media Relations
Thomas Nonnast
Phone: +49 30 206 2950-34
Email: thomas.nonnast@basf.com

Adani Group
Corporate Brand Custodian
Roy Paul
Phone: +91 79 2555 6628
Email: media@adani.com; roy.paul@adani.com

ADNOC External Communications
Philip Robinson
Phone: +971 2 70 75997
Email: probinson@adnoc.ae


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2020 11 05 Basf Adani Adnoc Borealis Mundra Project Update EN English, German
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Virginia Wieser
Senior Manager, Corporate Communications, Brand & Reputation

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