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India to set up a petchem complex in Maharashtra

by ChemOrbis Editorial Team -
  • 29/12/2015 (15:46)
India’s oil minister Dharmendra Pradhan stated that the three state-run oil marketing companies, Indian Oil Corp. Ltd (IOCL), Bharat Petroleum Corp. Ltd (BPCL) and Hindustan Petroleum Corp. Ltd (HPCL), will team up to build a large refinery and petrochemical complex in Maharashtra in the next couple of years, according to media reports. The minister expects India’s demand for petroleum products to rise to reach 550 million tons/year by 2040.

The refinery’s construction is planned to start by March 2017. The Chief Minister of Maharashtra, Devendra Fadnavis, affirmed that they are prepared to help the companies with the required clearance and land acquisition process, which has so far been a major obstacle for oil marketing companies hoping to build a refinery in the state.

According to data from the oil ministry’s statistics office, the Petroleum Planning and Analysis Cell (PPAC), the country’s current refining capacity is approximately 220 million tons/year and demand is around 165 million tons/year.
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