Gautam Adani to give tough competition to Mukesh Ambani in..., plans to dominate....
Adani vs Ambani: Billionaire businessman Gautam Adani is fully geared up to give tough competition to one of the richest men in the world, Mukesh Ambani, in a sector dominated by Reliance Industries. The Adani Group is going to set up a PVC plant with a capacity of 1 million tonnes per year in Gujarat's Mundra. With this, the conglomerate will enter the petrochemical sector. Notably, RIL is the largest company in the petrochemical sector so far. Adani Vs Ambani: Why The Petrochemical Sector?
The Adani Group has chosen the petrochemical sector and decided to set up a PVC plant because of its growing demand. PVC also known as polyvinyl chloride is a synthetic plastic polymer. It is used to make several products such as pipes, door frames, vinyl flooring and wall coverings, credit cards, toys, etc.
The sector is booming as the country's annual PVC demand is about 4 million tonnes, while domestic production capacity is 1.59 million tonnes. Half of the domestic capacity is dominated by Reliance Industries.
It is expected that the demand for PVC will grow by 8-10 percent annually. Adani Vs Ambani: What Will Be The Production Capacity Of Adani Group's PVC Plant?
The Adani Group is going to build a petrochemical plant in Mundra, as confirmed by two sources familiar with the development. The capacity of the PVC plant will be 1 million tonnes per annum. It is expected that the plant will be operational by the financial year 2027-28. The plant is expected to manufacture PVC, chlor-alkali, calcium carbide and acetylene units.
Adani Group plans to begin producing polyvinyl chloride (PVC) using an acetylene and carbide-based process. The necessary environmental permits and project approvals have been obtained. This initiative is expected to alleviate India's PVC shortage and decrease reliance on imports. Adani Vs Ambani: Who Is The Largest Pvc Producer In India?
The Reliance Industries is currently the largest PVC producer in India with an estimated PVC capacity of around 7,50,000 tonnes per annum. The company's has PVC plants in Hazira, Dahej and Vadodara. It is also planning to double its capacity by 2027. Adani Vs Ambani: War Of The Titans
The Adani Group and Reliance Industries have historically focused on different business sectors and never crossed each other's path. But first clean energy and now petrochemicals will be the areas where these two titans will lock horns with each other. As per sources, the capacity of Adani's PVC plant can be increased to 20 lakh tonnes per year in the coming years depending on the demands.
After a suspension in March 2023 caused by financial concerns and accusations from the Hindenburg Research report, the Adani Group's project restarted in 2023. The group at the same time secured over USD5 billion in equity and debt financing.
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