Double petchem capacity
Chemicals & Fertilizers Minister Ananth Kumar has called on the chemicals & petrochemical industry to double its output in five years from US$200 billion with a target growth rate of 14.7 per cent per annum.
Kumar noted the industry’s 11 per cent to 12 per cent growth rate at present.
“The government will facilitate in the growth story,” assured Kumar at the Cheminar 2016 held in New Delhi June 24, 2016.
The government can help in long term pricing contract with other countries for natural gas, he said at the seminar “Sustainable Chemistry – India’s future growth story”.
He also noted moves to set up chemical hubs around 22 petroleum processing refineries in the country.
He said the capacity expansion should over both greenfield and brownfield projects. fii-news.com
