The Adani Group said it was hopeful of financial closure of its green PVC project at Mundra in the next six months and committed to meet the original timeline.
“The financial closure of the green PVC project of Mundra Petrochemicals Ltd. ( MPL) is pending with the financial institutions and it is in their active consideration,” an Adani Group spokesperson said while denying reports that the group had shelved plans for a ₹34,000- crore Green PVC Project at Mundra following the recent developments emanating from the Hindenburg report. .
“Due to recent market developments, the management has decided to continue with the engineering design and other activities, including financial closure in an accelerated mode. Pending the above, it has been decided to keep the major equipment procurement and site construction activities on hold,” the spokesperson said
“We are hopeful to obtain financial closure for the project in next six months post which full-fledged procurement and construction activities at site will commence. We are committed to completing the project in an expeditious manner so as to meet the original timelines,” the spokesperson added.
