Russian petrochemicals industry is set to expand in the next five year as plans to diversify the economy will bring more investment into the industry. Russian economy, which has been highly dependent on hydrocarbon resources, will receive more support from the petrochemicals industry once all the planned plants come on-stream, as per GlobalData's new report. The major beneficiary of the diversification drive will be the olefins sector, where the production capacity will increase by more than 100% by 2017. The government is also supporting the industry by establishing petrochemical clusters at six locations across the country. This will further boost investments in the petrochemicals industry as these clusters will be integrated with the feedstock sources as well as downstream producers.