Adani Petrochemicals Forms Joint Venture with Indorama Resources to Boost Petrochemical Sector The newly formed entity, registered with the Registrar of Companies in Mumbai, has an authorized and paid-up share capital of INR 5,00,000, divided into 50,000 equity shares valued at INR 10 each.
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In a strategic move poised to reshape the petrochemical landscape, Adani Petrochemicals Limited (APCL), a wholly owned subsidiary of Adani Group, has announced the incorporation of Valor Petrochemicals Limited (VPL), a joint venture with Thailand-based Indorama Resources Limited. The joint venture, established with a 50:50 shareholding ratio, marks a significant step in APCL's vision of becoming a key player in the global petrochemical industry, as per a regulatory filing.
The incorporation of VPL was officially completed in January, 2025, with confirmation received on January 6, 2025. The newly formed entity, registered with the Registrar of Companies in Mumbai, has an authorized and paid-up share capital of INR 5,00,000, divided into 50,000 equity shares valued at INR 10 each.
VPL has been established with the objective of setting up a robust refinery, petrochemical, and chemical business in India. While the company is yet to commence operations, its ambitions align with Adani Petrochemicals' broader development plans, including a petrochemical cluster in Mundra, Gujarat. This cluster will house India's largest PVC manufacturing facility, with an estimated investment of INR 35,000 crore.
The partnership with Indorama Resources, a globally recognized leader in petrochemicals, adds significant strategic value to this venture. The collaboration brings together APCL's strong foothold in India's energy sector and Indorama's expertise in chemical production, creating a synergy that is expected to accelerate the development of advanced petrochemical facilities in the region.
VPL's operations are anticipated to bolster India's petrochemical industry, reducing the country's reliance on imports and fostering self-reliance in critical chemical manufacturing. The initiative is also expected to generate substantial employment opportunities and stimulate economic growth, particularly in Gujarat, a state emerging as a petrochemical hub.
While VPL's financial performance is yet to unfold, the joint venture underscores the Adani Group's commitment to expanding its portfolio and driving industrial innovation. This move is a testament to the growing collaboration between Indian and international companies in building a robust and competitive petrochemical ecosystem.
