The Adani Group mentioned it was hopeful of economic closure of its green PVC project at Mundra within the subsequent six months and committed to meet the unique timeline.
“The financial closure of the green PVC project of Mundra Petrochemicals Ltd. ( MPL) is pending with the financial institutions and it is in their active consideration,” an Adani Group spokesperson mentioned whereas denying studies that the group had shelved plans for a ₹34,000- crore Green PVC Project at Mundra following the latest developments emanating from the Hindenburg report. .
“Due to recent market developments, the management has decided to continue with the engineering design and other activities, including financial closure in an accelerated mode. Pending the above, it has been decided to keep the major equipment procurement and site construction activities on hold,” the spokesperson mentioned
“We are hopeful to obtain financial closure for the project in next six months post which full-fledged procurement and construction activities at site will commence. We are committed to completing the project in an expeditious manner so as to meet the original timelines,” the spokesperson added.
