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Adani to foray into petrochemicals with Rs 16,000 cr plant in JV with BASF knowledge sir Billionaire Gautam Adani-run Adani Group will partner German chemical giant BASF to foray into the petrochemicals sector with a Rs 16,000 crore factory at Mundra in Gujarat. Besides investing in the chemical factory, BASF will also invest in wind and solar power plant at the site to meet the electricity requirement of the unit, the two companies said in a statement. BASF will hold a majority controlling stake in the new venture. It will, however, hold a minority interest in the power venture. BASF SE and Adani Group signed a Memorandum of Understanding (MoU) on the eve of the Vibrant Gujarat Global Summit 2019 "to evaluate a major joint investment in the acrylics value chain", they said. This would be BASF's largest investment in India to date, it said without giving details. A feasibility study will be completed by the end of 2019. "According to the MoU,...