Adani Petrochemicals Limited (APCL), a wholly owned subsidiary of Adani Enterprises Limited has completed the incorporation process of a joint venture company namely Valor Petrochemicals Limited (VPL) on 4th January 2025 (confirmation of the same has been received by the company on 6th January, 2025) with Indorama Resources Limited, Thailand.

APCL shall hold 50% share capital of VPL. Authorized and paid-up share capital is Rs. 5,00,000 divided into 50,000 equity shares of Rs. 10 each. VPL is incorporated with the object to set up a refinery, petrochemical and chemical business. VPL has been incorporated in India and registered with Registrar of Companies, Mumbai.