State striving to build self-sufficiency in petrochemical merchandise: Mekapati
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‘Industrial corridors passing through A.P. dovetail with largest PCPIR near Kakinada’
Industries and Commerce Minister Mekapati Goutham Reddy on Wednesday mentioned that Andhra Pradesh was wanting to build self-sufficiency in petrochemical merchandise and drive economies of scale in the downstream chemical industries.
For the event of the Petroleum, Chemical and Petrochemical Investment Region (PCPIR), Andhra Pradesh is enabling co-location of bulk, intermediate and speciality petrochemicals gamers. Besides, the State is speaking to MNCs to facilitate joint ventures and know-how switch for introducing key intermediates.
Participating in ‘India Chem 2021’, a world convention collectively organised by the Department of Chemicals & Petrochemicals and FICCI in New Delhi, Mr. Goutham Reddy mentioned the Visakhapatnam-Chennai, Chennai – Bangalore and Hyderabad-Bangalore industrial corridors, which move via Andhra Pradesh, dovetail with the biggest PCPIR in the nation unfold throughout 640 sq. km between Visakhapatnam and Kakinada.
He identified that A.P. had attracted marquee investments in current instances in the chemical and speciality chemical industries that didn’t rely upon availability of fundamental feedstock resembling chloralkali, caustic soda, paints and adhesives.
Seventy-plus mega industries and 5,000-and-odd MSMEs invested $2.40 billion in the State, the Minister knowledgeable.
“Chemicals and petrochemicals are of strategic importance not only for consumer products but also for critical and lifesaving items,” Mr. Goutham Reddy mentioned, including that the Indian chemical trade had quite a few alternatives arising from the provision chain disruption in China and commerce battle among the many U.S., Europe and China.
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