Adani Group Partners With Indorama For Petrochemical Growth In Gujarat

The Adani Group, led by billionaire Gautam Adani, has entered the petrochemical sector through a strategic partnership with Thailand’s Indorama Resources Ltd. Together, they have established Valour Petrochemicals Ltd. (VPL), a joint venture aimed at building a strong presence in the refinery, petrochemical, and chemical industries. Both Adani Petrochemicals Ltd., a subsidiary of Adani Enterprises Ltd., and Indorama Resources Ltd. will hold equal stakes of 50% in the venture.
Adani Petrochemicals was incorporated to spearhead the development of refineries, petrochemical complexes, specialty chemical units, and hydrogen production facilities. These projects are being planned in phases as part of the company’s long-term growth strategy.
Group Chairman Gautam Adani had previously announced a commitment of over $4 billion for a petrochemical complex in Gujarat. Staying aligned with this vision, Adani Petrochemicals’ first major project is a 2 million tonnes PVC (polyvinyl chloride) production facility, to be developed in two phases. The first phase, comprising a 1 million-tonne PVC plant, is expected to be completed by 2026, while the second phase of equal capacity is targeted for early 2027.
The PVC plant will form part of a larger petrochemical cluster being developed in Mundra, Gujarat, with a total estimated investment of Rs 35,000 crore. Once operational, the facility is expected to become India’s largest PVC manufacturing plant. In line with the group’s sustainability goals, the cluster will also incorporate renewable energy sources, including wind and solar power plants, to meet its energy needs.
Adani Petrochemicals has previously pursued international partnerships, including a collaboration with German chemical giant BASF to establish a chemical facility in Mundra. However, the status of that project remains unclear.
This partnership with Indorama Resources Ltd. represents a major step for the Adani Group as it diversifies its portfolio and strengthens its foothold in the petrochemical sector.