Petrochemicals

The petrochemicals industry has now been identified as a thrust area by the Central Govt . In view of their cost-effectiveness substitution potential and utility for the common man. The petrochemical Industry in India is now poised for substantial growth. The projects now on the drawing board being those of Maharashtra Gas Cracker Complex and NOCIL both of which envisages ethylene capacities of 3,00,000 tpa. Besides two other projects are also envisaged, one at Hazira with a capacity In addition to this many companies in the private sector have been given licenses to produce ethylene which is a derivate of petrochemical products. It has been estimated by the Committee on Petrochemical Industry that the demand for petrochemicals in the country has been growing at a compound annual rate of. In per capita terms, the consumption of plastics in India is only O.SKg.as against 40 to 60 kg, in other developed countries. This shows that vast potential exists in the petrochemical industry in India dates back to 1968, when the Naphatha crackers of Union Carbide and National Organic Chemical Industries Ltd, went into production in Bombay. The Industry has moved a long way since then and the countries present ethylene capacity- which is considered a reliable yardstick for petrochemicals is £,15,000 tonnes per annum. This consists the capacity of newer products often supplementing other products such as Plastics, Synthetic Fibres have gained rapid acceptance and have laid the economy into productive growth. Petrochemicals refer to all chemical compounds which can be manufactured from Natural hydrocarbons by chemical process.