The joint venture was formalised on January 4, 2025, by Adani Petrochemicals Limited (APCL), a wholly-owned subsidiary of AEL, and Indorama Resources, with both companies holding equal ownership at 50 per cent. VPL has an authorised and paid-up share capital of ₹5,00,000 (~$6,000), divided into 50,000 equity shares of ₹10 (~$0.12) each.
The company is incorporated in India under the jurisdiction of the Registrar of Companies, Mumbai, with a focus on the petrochemical, chemical, and refinery business. As of now, VPL has no operational turnover and business activities are yet to commence, AEL said in a release.
The joint venture represents Adani’s strategic expansion into the petrochemical sector, aligning with its vision to establish a strong foothold in diversified industries. Indorama Resources’ involvement brings significant expertise in the chemical sector, promising growth potential for the venture.
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