Published 03/19/2023 7:22:46 a.m.

Hindenburg fallout: Adani Group suspends work on Rs 34,900 cr petchem project

Summary by Ground News

Adani Group has suspended work on a Rs 34,900 crore petrochemical project at Mundra in Gujarat. The group's flagship Adani Enterprises Ltd (AEL) had in 2021 incorporated a wholly-owned subsidiary, Mundra Petrochem Ltd. The unit was to have a poly-vinyl-chloride (PVC) production capacity of 2,000 KTPA (kilo tonne per annum)

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Times of India

Hindenburg fallout: Adani Group suspends work on Rs 34,900 cr petchem project

Adani Group is currently focuses on resources to consolidate operations and address investor concerns following a damning report by a US-based short seller. The group has denied all allegations levelled by Hindenburg. As part of this, projects are being re-evaluated based on cashflow and finance available.

03/19/2023 7:22:46 a.m.·India

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News18 India

Adani Group Suspends Work on Rs 34,900 Crore Petchem Project: Report

And of the projects the group has decided not to pursue for the time being is the 1 million tonne per annum Green PVC project

03/19/2023 9:11:13 a.m.·India

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The Hindu

Hindenburg fallout: Adani Group suspends work on ₹34,900 cr petchem project

The group has shot off mails to vendors and suppliers to "suspend all activities" on immediate basis

03/19/2023 7:17:31 a.m.·India

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Indian Express

Hindenburg fallout: Adani Group suspends work on Rs 34,900 crore petchem project

The group has shot off mails to vendors and suppliers to "suspend all activities" on immediate basis.

03/19/2023 7:26:25 a.m.·India

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Live Mint

Hindenburg row: Adani suspends work on ₹34,900 cr petchem project in Gujarat

The group's flagship Adani Enterprises Ltd (AEL) had in 2021 incorporated a wholly-owned subsidiary, Mundra Petrochem Ltd for setting up a greenfield coal-to-PVC plant at Adani Ports and Special Economic Zone (APSEZ) land in Kutch district of Gujarat

03/19/2023 7:51:16 a.m.·New Delhi, India

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Business Standard

Adani Group suspends work on Rs 34,900 crore petchem project: Report

PRI COM ECO ESPL.NEWDELHI DCM13BIZ-ADANI-SUSPENDHindenburg fallout: Adani Group suspends work on Rs 34,900 cr petchem projectBy Ammar Zaidi New Delhi, Mar 19 (PIT) Adani Group has suspended work on a Rs 34,900 crore petrochemical project at

03/19/2023 8:13:00 a.m.·India

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