BASF SE, the world’s largest chemical producer, will set up a petrochemical production hub at a cost of ₹16,000 crore in Gujarat in a joint venture with Adani Group. The German company will hold the majority in the joint venture, which will invest in the “acrylics value chain”, they said. The designated site would be at Mundra port in Gujarat and a feasibility study will be completed by the end of 2019.The investment will go into the development, construction and operation of production plants including propane dehydrogenation (PDH), oxo C4 complex (butanols and 2-ethylhexanol), glacial acrylic acid (GAA), butyl acrylate (BA) and potentially other downstream products.The products are predominantly for the Indian market to serve a wide range of local industries, including construction, automotive and coatings, whose growing demand is currently supplied via imports.
