The development of the petrochemical industry in India began to accelerate the strong growth in market demand

Stimulated by the healthy economic growth at home and abroad, India's petrochemical industry is rapidly expanding in recent years. The strong growth in the demand for petrochemical products and plastics in the Indian domestic market and the competitive advantage in low labor costs are making it an exporter of consumer goods and boosting the development of the Indian petrochemical industry. The American Chemical Industry Council (ACC) predicts that the Indian chemical industry will grow at an average annual rate of 7.7% in the next 10 years.
Indian companies have also consolidated their strong position in the specialty chemicals sectors with competitive advantages such as agricultural chemicals, dyes and fine chemicals. The person in charge of Polymers and Olefins, the largest chemical manufacturer in India, believes in the industrial company's polymer and olefin business: “The outlook for the Indian chemical industry is really optimistic. '
Under good market expectations, the Trust Industry Corporation is significantly expanding its petrochemical production capacity and is currently building a new 550,000 t/y styrene and a 280,000 t/y polypropylene production unit in its Jamnagar refinery and petrochemical complex. It is expected to start production at the beginning of next year and will invest Rs. 250 billion in capacity expansion of the refinery and aromatics complex. In addition, the Trust Industry Company plans to complete the 630,000 t/y PTA plant and the 550,000 t/y polyester fiber plant expansion project within one year, and will also complete the expansion of the Hazira ethylene plant during the period. 25 Million/year project construction. IPCL, a subsidiary of Confidence Industrial, is also expanding its petrochemical products at its Gandhar integrated plant and is interested in building a second olefin plant in the country. Following the acquisition of Trevira, a polyester fiber manufacturer based in Frankfurt last year, the company is seeking opportunities to acquire more overseas petrochemical assets.
Indian state-owned energy companies have also entered the petrochemical sector. Indian Oil Company invested 1.5 billion U.S. dollars to build the first petrochemical complex in Panipat, India, including a set of 800,000 tons of ethylene naphtha cracker and some downstream equipment. It is expected to be completed by the end of 2007. The company also plans to build an integrated petrochemical and petrochemical plant in Paradeep, India, and seeks to acquire a controlling stake in Haldia Petrochemicals in Kolkata, India.
India’s oil and gas companies are also planning to enter the petrochemical sector and will invest US$3 billion in a new olefin complex in Dahej, India, which is expected to be completed and put into production in 2009. The ethylene production capacity of the olefin complex will exceed 1 million tons/year. In addition, its subsidiary, Mangalore Refinery, will build a new unit of aromatics and olefins that will be put into operation around 2011.
The state-owned natural gas company Gail plans to expand its petrochemical production capacity by a factor of seven. After approval by the board of directors, it will invest 70 billion rupees to build a natural gas cracking complex with an annual capacity of 500,000 tons/year of ethylene and polyethylene in Cochin, India. In production. The company is also seeking partners to jointly invest 40 billion rupees in the new gas cracking consortium project in Assam Province, India. In addition, Gail also expanded ethylene and polyethylene for the natural gas cracking complex in Auriya, and is considering investing in new petrochemical capacity in China, Iran, and Russia.
The general manager of Schenectady Herdillia, a manufacturer of phenol, acetone and its derivatives in Mumbai, pointed out that the Indian petrochemical industry needs a large amount of foreign investment to ensure that the growth rate of output keeps up with the consumption growth rate, but the current Indian government has not given it a high degree. The importance attached. The company believes that the government should give tax incentives to overseas investors like China, Singapore, and Thailand, while improving infrastructure.

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