Published on August 1, 2017
The Centre is planning to set up petrochemical clusters in eastern, western and southern India, to spur growth of the sector amid increasing demand.
As per report, centre is planning to set up a number of petrochemical clusters, two each in east and west coasts, and some in south India. They will integrated with refineries so that the entire chain is benefited.
Recently the trend to set up petrochemical complexes to take full advantage of value chain of downstream products is increasing globally. Middle class will increase consumption of petrochemical products "manifold" by 2030.
India’s petrochemical market is valued at USD 50 billion, which is expected to grow at a rate of 89 per cent.
