Petrochemical Competition Heats Up in India

Adani Enterprises, a large Indian company already made up of several businesses, recently announced it had created a new subsidiary known as Adani Petrochemicals Ltd (APL) for the purpose of officially stepping into a focus on petrochemical business.  This move is believed to be intended to compete with Reliance Industries, India’s largest private sector refiner and petrochemicals producer.  APL has been incorporated but is not yet operational and has no details yet regarding any new projects.  Parent company Adani Enterprises specified in a regulatory filing this week that APL would “carry on business of setting up refineries, petrochemicals complexes, specialty chemicals units, hydrogen a

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