SNG & Partners and Saraf and Partners advised on ₹19,876 crore project finance for Adani Group’s Mundra Petrochem PVC plant.
The financing is being used to develop a greenfield polyvinyl chloride (PVC) manufacturing plant at Adani Ports and SEZ, Mundra, Gujarat, with an annual production capacity of one million metric tonnes. The project marks the Adani Group’s entry into the petrochemical sector and is expected to significantly reduce India’s dependence on PVC imports by doubling domestic manufacturing capacity.
SNG & Partners advised Mundra Petrochem Limited, an Adani Group company, on availing a project finance facility aggregating to ₹19,876 crore from a consortium of lenders led by State Bank of India.
The SNG & Partners team advising the borrower was led by Partner and Head – Banking & Finance Anju Gandhi, along with Associate Partners Rashmi Raveendran and Hetal Sheth, and Senior Associates Prateek Mohnot and Avni Gupta.
Saraf and Partners advised the consortium of lenders led by State Bank of India on the transaction.
The transaction team was led by Partner Rohit Raghavan, and included Senior Associate, Shiren P. And Associate, Kartik Aggarwal.
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