The Gautam Adani Group needs Rs 14,000 crore to build a new plant at Mundra in Gujarat. The group has approached the State Bank of India (SBI) for this. The total cost of the Adani Group project could be around Rs 19,000 crore.
Loan for 15 years: A Mint report quoted sources as saying that the 15-year loan framework is being finalized. Sources reveal that SBI will keep around Rs 5,000 crore of the loan in its accounts. However, emails sent to the spokespersons of SBI and Adani Group\'s Adani Enterprises on the issue did not elicit any response.
A loan is taken in March: In March this year, the Adani Group also secured a loan of Rs 12,770 crore from SBI for a greenfield international airport project in Navi Mumbai. The loan was taken by Navi Mumbai International Airport Private Limited (NMIAL), another subsidiary of the group.
What is planned in Mundra: According to reports, a new facility is being planned in Mundra to make Polyvinyl Chloride (PVC) from coal. The plant is also expected to be part of the Adani Group\'s plan to develop a petrochemical at Mundra.
It will have a production capacity of 2,000 kilo tonnes per annum (KTPA) and will manufacture products such as Emulsion PVC, Suspension PVC, and Chlorinated PVC. The company, in its annual report for 2021-22, had said that a total capacity of 20 lakh metric tonnes of PVC would be developed at Mundra in a phased manner. The 2,000 ktpa projects will be completed in the first phase and are expected to be commissioned by 2024.
Let us inform you that recently the Adani Group has raised Rs 6,071 crore for a greenfield copper refinery project in Mundra.
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