By: ICN Bureau
Last updated : March 21, 2023 8:40 am
The company is committed to completing the project in an expeditious manner so as to meet the original timelines
We are hopeful to obtain financial closure for the Mundra Petrochemicals Limited (MPL) project in the next 6-month post which full-fledged procurement and construction activities at site will commence, said Spokesperson of Adani Group in respect to the clarification with reference to certain news report on Adani Groups' Green PVC project.
We are committed to completing the project in an expeditious manner so as to meet the original timelines added Spokesperson of Adani Group
The financial closure of the Green PVC project of Mundra Petrochemicals Limited is pending with the financial institutions and it is in their active consideration. Due to recent market developments, the management has decided to continue with the engineering design and other activities including financial closure in an accelerated mode.
Pending the above, it has been decided to keep the major equipment procurement and site construction activities on hold.
Adani Group is planning to commission a Rs. 34,900 crore petrochemical project called Green PVC Project in Mundra through its subsidiary Mundra Petrochemicals Limited.
MPL is incorporated with the object to set up various feedstocks (coal, petcoke, coke, limestone, salts, sand, tar, oil, LPG, LNG, Ethane, LPG, green fuels etc.) based refinery, petrochemical, and chemical plants in a phased manner in India and to undertake all such activities associated with land acquisition, design and engineering, procurement, and other related undertakings.