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Petrochem majors step on the gas pedal

Studies say demand for polyethylene in India will rise at a CAGR of 8% over the next few years

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<b>Photo: Wikipedia</b>

Jyoti MukulShine Jacob New Delhi
India’s manufacturing sector may not be seeing an investment pick-up but major petrochemical companies are in the process of mega investment plans for capacity enhancement.

Reliance Industries (RIL) commissioned the first phase of a paraxylene (PX) plant at Jamnagar, Gujarat, last month; it says it hopes to become the world’s second-largest PX producer on full commissioning. Government-owned GAIL (India) and Hindustan Petroleum Corporation (HPCL) plan a Rs 30,000-crore petrochem unit in Andhra Pradesh.

IndianOil Corporation (IndianOil) — that exports to 70 countries — plans to invest Rs 34,000 crore in a petrochem complex at Paradip in Odisha by 2021. The

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