Adani, TCG gear up for petrochemical foray as RIL eyes expansion in sector

Adani planning PVC plant in Mundra, Gujarat; TCG looking to make polymers, chemicals and PTA at Cuddalore, Tamil Nadu

The Adani group and The Chatterjee Group (TCG) are set to become key competitors of Reliance Industries (RIL) in petrochemicals, as the two players firm up plans to enter the sector. Adani group chairman Gautam Adani said last week in an interview to the Financial Times, that his conglomerate planned to invest over $4 billion in a petrochemical complex in Gujarat over the next few years.

RIL, which has a large petrochemicals unit in Jamnagar, Gujarat, had announced in its annual general meeting in August that it would invest Rs 75,000 crore in the segment to expand capacities in new