Nayara Energy to spend ?1.5 lakh crore for capacity expansion
Russia’s Rosneft backed Nayara Energy has introduced huge expansion plans including the setting up of a greenfield petrochemical complex in India. The company has also planned capacity expansion of up to 46 mtpa at Vadinar, Gujarat. The expansion will also include the retail expansion of Nayara. The total investment of this project is INR 1500000 Million.
The company’s refinery expansion will be focused on the production of fuel products and petrochemical feedstock. The demand growth in India will require a capacity of 224 MTPA which will further create a need for ethylene, polypropylene and other products by the year 2025.