New Delhi: Fertiliser Minister Ananth Kuamr said the petrochemicals sector requires an investment of over Rs 60,000 crore in the near future and the government is ready to provide this investment to usher growth in the segment.
The Minister at the Petrochemical Conclave here said all stakeholders should come out with a ‘Move Forward Paper’ culling out issues needing support from the central and the state governments.
He said on Prime Minister’s ‘Make in India’ call that the Government is ready to address the basic issues concerning the sector of Petrochemicals and downstream industries, like environment, infrastructure and incentives. Kumar also suggested that refining companies be anchor units and take part in the development of downstream industries and infrastructure.
The minister stressed a need for capacity building in the sector. There could be another vertical in several institutes for training the personnel in the petrochemicals, he said. Chemicals and Petrochemicals Secretary Surjit Chaudhary said, “There is need of setting up logistics hubs, supply chain efficiency, import substitution and localisation to give boost to the sector.”
