Adani Petrochemicals Limited will oversee the establishment of refineries, petrochemical complexes, specialty chemical units, hydrogen and associated chemical plants and other such units.
New Delhi. The Adani Group, led by the country’s big industrialist Gautam Adani, has formed a new subsidiary. It will set up refineries, petrochemical complexes and hydrogen plants.
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one of the largest business groups
Adani Enterprises, the flagship company of the Adani Group, informed the stock exchange that it has incorporated Adani Petrochemicals Limited (APL) as a wholly owned subsidiary.
It will look after setting up of refineries, petrochemical complexes, specialty chemical units, hydrogen and allied chemical plants and other such units. The Adani Group of Ahmedabad is one of the largest business conglomerates in the country. There are many group companies operating in different sectors. It has about six listed entities.
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Recently Adani Group took over the new responsibility
The Adani Group has also recently taken over the management of Mumbai International Airport from GVK Group. The group had announced in August last year that it would acquire GVK Group’s stake in the Mumbai airport. After this deal, the Adani Group will hold 74 per cent stake in Mumbai’s Chhatrapati Shivaji Maharaj International Airport. In 74 per cent, 50.5 per cent will be acquired from GVK Group. The remaining 23.5 per cent stake is also to be acquired from minority partners Airports Company South Africa (ACSA) and Bidwest Group.
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