Hardeep Singh Puri says India plans to invest $87 billion in petrochemical sector over next decade

Indian Oil Hardeep Singh Puri Minister india expects to secure investments worth $87 billion over the next decade to meet the country's growing demand to petrochemicals, it said on Friday. Puri India Chemical in Mumbai"As greater and greater citizens enter the middle class, the demand to various items will increase signifiis able totly, many of which are derived from petrochemical items," the event said. And " he said that per capita consumption of petrochemicals in India much reduced than in developed countries, which provides an opportunity to investment in the sector. In my experience, India consumes between 25 million and 30 million tonnes of petrochemicals per year, and the current $220 billion chemical and petrochemical sector is expected to grow to $300 billion by 2025, Puri said. But I've found that While countries around the world are seeking to move to cleaning agents energy india, China and the Middle East have been developing domestic petrochemical production to fuel oil refining to decades. India'state-owned and private oil companies (such as Nayara Energy and Haldia Petrochemicals) have announced plans to increase production. Puri said that companies such as Haldia, ONGC and BPCL have committed to invest US $45 billion, and are expected to invest another US $100 billion to meet the growing demand and promote India's transition to a low-carbon future.

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