Adani Group has suspended work on a 349-billion-rupee ($4.2 billion) petrochemical project at Mundra in Gujarat, the Press Trust of India reported on Sunday, citing unidentified people with knowledge of the matter and mails sent to suppliers.
(Bloomberg) — Adani Group has suspended work on a 349-billion-rupee ($4.2 billion) petrochemical project at Mundra in Gujarat, the Press Trust of India reported on Sunday, citing unidentified people with knowledge of the matter and mails sent to suppliers.
Adani has decided not to pursue the greenfield polyvinyl chloride project for the time being, the news agency reported. Â
The company will be re-evaluating the status of growth projects across various business verticals over the coming months, Adani told PTI.
Read more: Adani Maps Comeback Strategy After $135 Billion Hindenburg Rout
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