With the Centre in the process of preparing a perspective plan for the chemicals and petrochemicals industry in order project the demand-supply scenario in the future, the demand for petrochemicals will jump for 30 to 40 million tons in next three years, said a top official recently.
Considering the feedstock requirement gaps, the country will urgently need at least five new integrated cracker plants, each with 1.5-million-ton capacity before 2025. That will work for at least 20-30% of value addition for the feedstock requirement and serve the increasing demand of petrochemical products in the country, said P Raghavendra Rao, Secretary, Department of Chemicals & Petrochemicals.
India moves big in its commitment to avail basic feedstock for the Chemicals & Petrochemicals industry, by setting up two-level perspective plans for the years 2025 and 2040, he added.
Rao was speaking in the Indian Chemical & Petrochemical Conference (ICPC) 2018: Vision 2040 conference in New Delhi.
The ICPC policy forum organized by the Confederation of Indian Industry (CII) in association with the Ministry of Chemicals & fertilizers.
T Government wishes to make the policy more action-driven and not prescriptive, giving sustainability and green practices adequate importance. That would further help spurring industrial as well as overall socio-economic development of the country, the Secretary added.