Adani looks to get financial closure for petrochemical project in six months

Adani Group anticipates funding for its greenfield coal-to-polyvinyl chloride project to be secured within the next six months.

The ports-to-power conglomerate said in a statement Monday that “full-fledged procurement and construction activities at the site will resume” following the financial closing. “We are devoted to complete the project quickly so that the initial deadlines are met.”

The Adani Group has reportedly halted development on a 349 billion rupee ($4.2 billion) petrochemical project at Mundra, according to local news source Press Trust of India. This factory is being built in Gujarat by a fully owned subsidiary of the group’s flagship Adani Enterprises Ltd.

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