With its petrochemicals demand growing at more than 10 per cent year-on-year, India currently imports over 45 per cent of its petrochemical needs, valued at over USD 7 billion per annum.
In the wake of the Government of India's focus on rapid economic growth and multipronged development initiatives in all sectors, the country's demand for plastics and polymers is set to surge further; driven by demand from diverse industries, the farming sector and households, and from rising urban to rural consumption.
To meet this rising demand and be future-ready, India is focusing on self-sufficiency in diverse streams of petrochemicals.
RRPCL shall come with a 18-million tonnes per annum petrochemicals complex which will give a big boost to the Government's 'Make in India' initiative in support of the petrochemicals sector.
With provision for production of olefins, aromatics and derivatives, RRPCL will produce propylene, ethylene and many other petrochemical intermediates, besides niche petrochemicals and chemicals. To cater to Indian and overseas markets, it will come up as a one-stop-shop for all petrochemical and allied product needs.
The availability of petrochemical intermediates, naphtha and other building blocks, will provide impetus to the dream of attaining self-sufficiency in petrochemicals.
A Petrochemicals Park is also being planned to be developed as a marketplace for world class polymers and finished goods which will infuse new life into the economic eco system.