Adani Enterprises Ltd has completed around 60 per cent of construction and project expenditure on its ₹26,000-crore polyvinyl chloride (PVC) plant at Mundra in Gujarat, with the first phase of the facility on track for commissioning in FY28, the company said during an investors’ call on Wednesday evening.
The company has spent ₹16,133 crore on the project so far, according to its investors presentation. This includes ₹3,895 crore spent in FY25, ₹7,979 crore in FY26 and ₹4,319 crore during the first half of FY27, taking cumulative expenditure to around 62 per cent of the planned investment.
“We are constructing a one-million-tonne-capacity plant at Mundra. It is approximately a ₹26,000-crore capex plan, out of which we have crossed the 60% mark in terms of project spend and construction on the ground,” the management said during the call.
The first phase of the project is expected to be commissioned in the next fiscal, after which the plant is expected to take six to nine months to stabilise. The management said the project was progressing well and remained on schedule.
The plant will manufacture PVC and related materials. Its first phase forms part of a planned two-million-tonne-per-annum PVC complex that Adani Enterprises is developing as the centrepiece of a petrochemical cluster at Mundra in Kutch district.
PVC is widely used in pipes, construction materials, cables and other industrial applications. The project is expected to support domestic production and reduce India’s dependence on imported PVC, with demand linked to infrastructure development, housing, water-supply systems and irrigation projects.
The Mundra investment is part of Adani Enterprises’ wider expansion into industrial and infrastructure businesses. The company’s plans also include petrochemicals, copper, new energy, airports and data centres.
The next stated milestone is the commissioning of the first part of the PVC project in the next fiscal, followed by an expected six-to-nine-month stabilisation period.
