Current Affairs - Business - Discussion

BASF SE (BASF), German chemical company and the largest chemical producer in the world, has signed a Memorandum of Understanding (MoU) with the Adani Group to invest 2 billion Euros or Rs. 16,000 crore in the acrylics value chain. This deal is BASF's largest investment in India to date. The designated site will be located at Mundra port in Gujarat. BASF would hold the majority stake in the joint venture (JV). It is expected that this partnership with BASF is a big step forward in enabling 'Make in India' programme, as this partnership allows to produce in Mundra several of the chemicals along the C3 chemical value chain that is currently being imported.