To ensure feedstock availability at home, Govt proposes overseas petrochemical complexes

23-Jul-14

The department of chemicals and petrochemicals proposes to set up chemical and petrochemical complex in overseas countries to ensure the availability of primary chemicals raw materials exclusively for the Indian companies. The feedstock complex will be set in a special economic zone to be set up by Indian government in these countries , part of which will be utilised for establishing the petrochemical and chemicals feedstock. According to officials, two countries that have been identified for this purpose are Iran and Myanmar with whom it proposes to start the dialogue for setting up such chemical feedstock complexes. This endeavour is aimed at making India a export hub for processed and finished chemicals and not producer of basic chemicals. For Iran and Myanmar, it will bring in foreign investment and employment.