Adani Enterprises forays into petrochemicals business with new subsidiary

Adani Enterprises Ltd, the flagship entity of Gautam Adani’s Adani Group, has incorporated a fully-owned subsidiary called — Adani Petrochemicals Limited (APL) to foray into the petrochemical industry.

Adani Petrochemicals Limited will be engaged in establishing refineries, petrochemicals complexes, specialty chemicals units, hydrogen and related chemicals plants, and other similar units.

Adani Enterprises said that the authorized and paid-up share capital of the new petrochemicals subsidiary is INR 1 lakh.

Last month, Adani Enterprises had incorporated a new wholly-owned subsidiary in the form of Adani Cement Industries Limited (ACIL), which will be involved in manufacturing, producing, and processing all types of cement.