BASF, Partners to Consider Investing Up to $4 Billion in Indian Chemicals Site
October 17 2019 - 4:49AM
Dow Jones News
By Max Bernhard
BASF SE (BAS.XE) said Thursday that it signed a memorandum of
understanding with Abu Dhabi National Oil Co., India's Adani Group
and Borealis AG to further evaluate collaboration on a chemical
production complex in India, which would include an up to $4
billion investment.
"The parties are examining various structuring options for the
chemical complex that will leverage the technical, financial and
operational strengths of each company," BASF said.
The possible site would be situated at Mundra port in Gujarat,
India, and the products would predominantly be for the Indian
market, it added.
The companies plan to finalize a joint feasibility study by the
end of the first quarter next year, while production is to start in
2024.
Write to Max Bernhard at max.bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
October 17, 2019 04:34 ET (08:34 GMT)
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