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