Adani Enterprises has acquired balance 49% stake in Chemoil-Adani, which was a jointly-owned bunker supplier that supplied bunker fuel to vessels in Mundra and other ports in India. Chemoil Energy (Chemoil), a subsidiary of Glencore, has sold to Adani its 49% interest in Chemoil-Adani.
Going forward, Chemoil will no longer be associated with the business, which will be fully-owned and managed by Adani and renamed as Adani Bunkering.
Adani Enterprises is the country’s largest coal importer-turned-domestic private mine developer-cum-operator (MDO). The company is truly a diversified asset backed commodities trader, sourcing, producing, marketing and transporting them across the globe.
