Investments in Indian petrochemical industry to total to 100000 crore over next four years

23-Jan-08

The Indian petrochemical industry is expecting funding to the tune of almost Rs 1,00,000 crore, while the downstream sector will get about Rs 50,000 crore in the next three to four years. Players like ONGC, RIL, IOC, and Essar have currently invested in this segment. With the recent introduction of the petrochemical policy, India is also expecting an investment from global players in the petrochemical industry, poised for more than 10% growth for the next five years from 2006. At current prices, downstream petrochemical production is expected to increase from current levels of US$15-18 bln to Us$30-35 bln over the next five years Sectors of future growth include modern farming through plasticulture, packaging for processed foods and consumer nondurables, better performing plastics for automobiles and consumer durables, infrastructure development through cost effective plastics and innovative products for telecommunications and information technology services sector. Companies have been shifting focus towards development of value added quality petrochemical products at globally competitive prices.