Agency / Source: BASF

Check Ads Availability|e-mail Article

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

ADNOC, Adani, BASF and Borealis Sign Memorandum of Understanding to Further Evaluate Collaboration for A Chemical Production Complex in Mundra, India - The total investment is estimated to be up to $4 billion - Adani.com / ADNOC.ae / BorealisGroup.com / BASF.com
ADNOC, Adani, BASF and Borealis Sign Memorandum of Understanding to Further Evaluate Collaboration for A Chemical Production Complex in Mundra, India

 

PRZOOM - /newswire/ - Mundra, United Kingdom, 2019/10/17 - The total investment is estimated to be up to $4 billion - Adani.com / ADNOC.ae / BorealisGroup.com / BASF.com. DE000BASF111

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Manufacturing/Robotics Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

• Propane dehydrogenation (PDH) unit to be established as raw material supply for acrylics value chain and polypropylene production;
• Total investment estimated to be up to $4 billion;
• Supply concept for 100% renewable energy under development.

Abu Dhabi National Oil Company (“ADNOC”), Adani Group (“Adani”), BASF SE (“BASF”) and Borealis AG (“Borealis”) have signed a Memorandum of Understanding (MoU) to engage in a joint feasibility study to further evaluate a collaboration for the establishment of a chemical complex in Mundra, Gujarat, India. This is the next step of BASF’s and Adani’s investment plans as announced in January 2019. With the inclusion of ADNOC and Borealis as potential partners, the parties are examining various structuring options for the chemical complex that will leverage the technical, financial and operational strengths of each company. The total investment is estimated to be up to $4 billion.

The collaboration includes evaluating a joint world-scale propane dehydrogenation (PDH) plant to produce propylene based on propane feedstock to be supplied by ADNOC. Propylene will be partially used as feedstock for a polypropylene (PP) complex, owned by ADNOC and Borealis, based on proprietary state-of-the-art Borealis Borstar® technology.

The PP complex will be the first overseas production joint investment by ADNOC and Borealis as part of a strategic framework with their current joint venture Borouge. Furthermore, propylene will be the key raw material for the previously announced acrylics value chain complex comprising glacial acrylic acid (GAA), Oxo-C4 (butanols and 2-ethylhexanol), butyl acrylate (BA) and potentially other downstream products as part of a joint venture of BASF and Adani in which BASF holds a majority.

The designated site is planned at Mundra port in Gujarat, India, and the products are predominantly for the Indian market, serving a wide range of local industries, including construction, automotive and coatings.

The chemical complex in Mundra is intended to be entirely supplied from renewable energy resources. The partners are evaluating co-investment in a wind and solar park with the plans at an advanced stage of development. If realized, this would be the world’s first CO2-neutral petrochemical site to be fully powered by renewable energy, fully in line with the partners’ commitment to sustainability and energy efficiency.

Commenting on the MoU signing, Dr. Sultan Al Jaber, UAE Minister of State and ADNOC Group CEO, said: “This exciting collaboration is in line with ADNOC’s strategy to foster mutually beneficial partnerships. As a value-adding partner, ADNOC will play a crucial role as the propane feedstock supplier to this project. As the fastest growing global energy market, India is crucial to our international growth ambitions in the downstream sector. As such, this project allows ADNOC and its partners to capture the promising growth in the Indian polyolefins market.”

Gautam Adani, Chairman of the Adani Group, stated: “We are very pleased to collaborate with our international partners to establish a Chemical Manufacturing Complex at Mundra Port. We stand committed to the ‘Make in India’ initiative and serve the larger purpose of aligning growth opportunities with creation of goodness for the nation.”

“BASF remains committed to investing in India’s growth. We will play a key role in driving this joint collaboration which is also pioneering in terms of sustainability. We look forward to working together with our partners in establishing a chemical cluster in Mundra and to supplying the Indian market with high-quality downstream products,” said Dr. Martin Brudermueller, Chairman of the Board of Executive Directors of BASF SE.

Alfred Stern, CEO of Borealis, added: “This partnership is a unique opportunity to strengthen our PP presence in India with proprietary Borealis Borstar PP technology and to create value and tangible benefits through innovation for customers across multiple industries.”

The partners aim to finalize the joint feasibility study by the end of Q1 2020. Production is intended to commence in 2024.

About Abu Dhabi National Oil Company (ADNOC)

ADNOC (adnoc.ae) is one of the world’s leading diversified energy and petrochemicals groups with a daily output of about 3 million barrels of oil and 10.5 billion standard cubic feet of gas. With 14 specialist subsidiary and joint venture companies, ADNOC is a primary catalyst for the UAE’s growth and diversification. For further information contact: media[.]adnoc.ae.

About Adani Group

Headquartered in Ahmedabad, India, Adani Group (adani.com) is one of India’s largest integrated infrastructure conglomerates with interests in Resources (coal mining and trading), Logistics (ports, logistics, shipping and rail), Energy (renewable and thermal power generation, transmission and distribution), and Agro (commodities, edible oil, food products, cold storage and grain silos), Real Estate, Public Transport Infrastructure, Consumer Finance and Defence. Adani owes its success and leadership position to its core philosophy of ‘Nation Building’ and ‘Growth with Goodness’ - a guiding principle for sustainable growth. The Group is committed to protecting the environment and improving communities through its CSR programme based on the principles of sustainability, diversity and shared values.

About BASF

At BASF (basf.com), we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The approximately 122,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of around €63 billion in 2018. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S.

About Borealis

Borealis (borealisgroup.com | borealiseverminds.com) is a leading provider of innovative solutions in the fields of polyolefins, base chemicals, fertilizers and melamine. With its head office in Vienna, Austria, the company currently has more than 6,800 employees and operates in over 120 countries. Borealis generated EUR 8.3 billion in sales revenue and a net profit of EUR 906 million in 2018. Mubadala, through its holding company, owns 64% of the company, with the remaining 36% belonging to Austria-based OMV, an integrated, international oil and gas company. Borealis provides services and products to customers globally, in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC) and with Baystar™, a joint venture with Total and NOVA Chemicals in Texas, USA.

Borstar is a registered trademark of Borealis AG

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Manufacturing/Robotics Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Agency / Source: BASF

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick PRZOOM - Press & Newswire Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Manufacturing/Robotics articles,
CATCH Visitors via Your Competitors Announcements!


ADNOC, Adani, BASF and Borealis Sign Memorandum of Understanding to Further Evaluate Collaboration for A Chemical Production Complex in Mundra, India

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name PRZOOM - Press & Newswire and LINK as the source.
 
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
Mundra Port | BASF
Contact: Christian Zeintl - BASF.com 
+49 621 60-71233 christian.zeintl[.]basf.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any BASF securities in any jurisdiction including any other companies listed or named in this release.

Manufacturing/Robotics via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Press Releases From BASF / Company Profile


Read Manufacturing/Robotics Most Recent Related Press Releases:

SCHOTT’s Laser-Diffusing Technology Enables More Effective Light-Based Therapies
BASF and NGK to Partner on Developing the Next Generation of Sodium-sulfur Batteries
ACUVA Technologies Commended by Frost & Sullivan for IntenseBeam™, its Innovative UV-LED-based Water Purification Technology
West and SCHOTT Announce Partnership to Combine the SCHOTT IQ® Platform with West’s Ready Pack™ System
Atlas Copco has Acquired WestRon - A Canadian Distributor of Compressors and Blowers
BASF’s Plastic Additives Improve the Manufacture and Functionality of Underwater Cable Sheathing
SCHOTT Teams Up with GORE to Introduce World’s First Silicone-free Glass Syringe System
YASKAWA to Showcase Air Grip World At BrauBeviale 2019
DSM Releases First-ever UL-certified Flame-retardant PA6/66 Material for Open 3D Printing Systems
YASKAWA Expanded its Welding Robot Portfolio of the MOTOMAN AR Series

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
 
NewswireToday Celebrates 10 Years in Business
.



PREMIUM Members


Visit Havens Metal Works

Visit  BizJobs.com

Visit  JobsWare.com







 
  ©2019 PRZOOM - Limelon Advertising, Co.
Home | About PRZOOM | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneur newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today