Feb 15 2016 | India Opportunities
Government Aims To Develop North-East Region As Petroleum Hub
India petrochemical industry turnover is around $40 billion per annum. The Government of India aims to develop North-East region as a Petroleum hub. As part of this plan, the focus would be to expand its hydrocarbon and petrochemical industries in the NE region. The markets that can be targeted include Nepal, Bangladesh, Thailand and Myanmar. The Government is about to release its new vision 2030 document in this regard. To achieve its aim, the Ministry of Petroleum & Natural Gas proposes to build a strong network of crude oil and natural gas pipeline infrastructure in the region with major capacity addition in oil refineries. Development of high capacity pipeline infrastructure can boost refinery output and lead to setting up of downstream polymer units based on by-products churned out by the refinery.