India's largest petrochemical plant up and running
ONGC Petro additions Ltd plant has been set up with an investment of Rs 30,000 crore
GN Bureau | March 8, 2017
#Narendra Modi #OPal #petroleum products #ONGC #PSU #Gujarat
Prime minister Narendra Modi on Tuesday dedicated ONGC Petro additions Ltd (OPaL) plant to the nation at a function at Bharuch, Gujarat.
OPaL is a joint venture company promoted by ONGC, GAIL and GSPC, implementing a grass root integrated petrochemical complex located in Special Economic Zone (SEZ) under Petroleum, Chemical and Petrochemical Investment Region (PCPIR) at Dahej. The company was incorporated on November 15, 2006.
This is the single largest petrochemical plant in India and at full capacity, will annually produce 14 lakh metric tonnes of polymers viz. linear low density / high density polyethylene, polypropylene and 5 Lakh metric tonnes of chemicals like Benzene, Butadiene, and Pyrolysis Gasoline etc. The product warehouse is one of the largest in India with an area of 128,250 square metres.
Set up with an investment of Rs 30,000 crore, the plant is strategically located in the petrochemicals and chemical hub of the country with excellent connectivity, creating an integrated ecosystem. It will generate direct employment for 3,500 personnel and indirect employment for around 10,500 people.
The project will result in the growth of new downstream plastic processing industries in the country, generating investment of Rs 40,000 crore and over 20,000 indirect employment opportunities. The increased use of polymers will also reduce burden on traditional materials like wood, paper, metal and will help in conserving natural resources like water and energy and promote food safety & food conservation.
OPaL's projected market share in the polymer sector will be 13% by 2018. The company would also contribute in encouraging polymer consumption in the country & its products will be used for important sectors like infrastructure, housing, packaging, irrigation, automotive, healthcare etc. OPaL's production of polymer will help country towards self-sufficiency.
The average per capita consumption of polymers in India is 10 kg, compared to a world average of 32 kg. There is tremendous potential for growth of the sector catalysed by growth drivers such as increasing middle class, higher disposable income and urbanisation.
The petrochemical sector in the country has witnessed a robust growth of 10-12 percent per annum in the last decade, and is expected to grow at a rate of 12-15 percent in the next decade.
#Narendra Modi
#OPal
#petroleum products
#ONGC
#PSU
#Gujarat