26 July 2024
Nayara Energy, India's second-largest refinery, plans to expand 50% of its business by 2030. It operates with 6000 retail outlets and plans to open 3000 more by 2030. It processes 20 million tonnes of crude and provides all goods and services to other customers in India. It also plans to make India more self-reliant and self-sufficient in petrochemical production, setting up 450,000 tonnes of polypropylene production by the end of this year. Mr Virag mentioned, "One specific segment which is extremely growing much faster than the rest of the economy is petrochemical demand and here India is a net importer". He further added, "We heard Prime Minister Modi in Indian Energy Week say he said the current demand is 250 million tons and in 2040 It will be 450 million tons, so there is a huge growth story and of course, Nayara Energy wants to be part of it. "
