Russian refinery acquired the Essar Oil based in Jamnagar in 2017 and named it as Nayara Energy. The plan for expansion includes setting up of a greenfield petrochemical complex and ramping up its existing refining capacity from 20 million tonnes per annum (mtpa) to 46 mtpa at Vadinar near Jamnagar in Gujarat, according to two industry officials close to the development. The total investment for the project is estimated to be around Rs 1.5 lakh crore. The expansion plans also include increasing its retail presence and additional investment at the captive port of Vadinar.
The company has already received environmental clearances for the expansion project and aims to complete this task by 2025. The petrochemical complex includes setting up an ethylene cracker and associated units, aromatics, polyester intermediates, polymer units, phenol chain and specialty chemicals.
