Currently, annual revenue generated by the petrochem industry stands at US $1.6 trillion and is projected to grow to US$15 trillion to $20 trillion by 2050 - a ten-fold increase. The growing economies of China and India are estimated to unleash an explosion of demand. Surging economies of China and India are to be the chief factors driving a shift in the global petrochemical industry to Asia in the 21st century.
To gear up for the increased demand, Reliance is more than doubling its 620,000 bpd refinery in Jamnagar to 1.3 million bpd in a project being overseen by U.S. engineering company Bechtel Corp. By contrast, the largest U.S. refinery is Exxon Mobil Corp.'s 564,000 bpd refinery in Baytown, Texas, which also has an adjoining chemical production plant.
28-Mar-06 
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