Petrochem
S&P Global Ratings highlights India's big petrochemicals push could tip Asian supply imbalance
India will become a major force in petrochemicals. This move will intensify supply imbalances in Asia. India's expansion mirrors China's earlier steps. Both nations aim for self-sufficiency. This will challenge Asia-Pacific petrochemical exporters. India's domestic demand will keep its sector resilient.
India to emerge as next petrochemicals powerhouse with $37 bn capex push: S&P
India plans a USD 37 billion investment in petrochemicals. This aims for self-sufficiency. India will become a significant global player by 2030. This expansion follows China's similar moves. It will intensify oversupply in Asia. Asian exporters face challenges. India's large domestic demand will protect local producers. India will overtake the US as the second-largest polyethylene consumer.
Haldia Petrochemicals trading arm plans to scale up in Asia: Sources
HPL Global, Haldia Petrochemicals' Singapore unit, aims to increase its trade volume by 30% to 2 million metric tons by 2026. The company also plans to double its trading team after hiring four traders since late 2023. HPL Global intends to expand its trading portfolio to include butadiene and MTBE, alongside managing vessel chartering and risk for its parent company.
Manali Petrochemicals expands Propylene Glycol capacity to back 'Make in India'
Manali Petrochemicals Limited launched its expanded Propylene Glycol plant. This aligns with the Make in India vision. The expansion will increase production by 50,000 KTPA. The facility awaits approval from the Tamil Nadu State Pollution Control Board. This move aims to reduce India's reliance on Propylene Glycol imports. It will also strengthen India's position as a global manufacturing hub.
HPL completes maintenance turnaround at Haldia plant
Haldia Petrochemicals Limited (HPL) has successfully concluded its 45-day maintenance turnaround 2025 (TA25) at its West Bengal facility. This initiative aims to enhance operational excellence, technological advancement, and sustainability. The turnaround has resulted in improved infrastructure reliability, increased safety standards, and a technological framework that supports future growth and innovation, leading to higher throughput.
India studying impact of US tariffs on chemicals, petrochemicals sector
The Indian government is evaluating the impact of US tariffs on its chemical and petrochemical exports, which totaled USD 5.7 billion in FY24. A potential export reduction of USD 2-7 billion by FY26 is estimated. Concerns also exist regarding potential dumping of cheaper Chinese chemicals into the Indian market due to US tariffs on China.
Sun Petrochemicals inks pact with Telangana govt for setting up Rs 45,500 cr pumped storage projects
Sun Petrochemicals has entered a MoU with Telangana for establishing large-scale pumped storage hydro power projects in Nagarkurnool, Mancherial, and Mulugu districts, investing Rs 45,000 crore. This initiative will generate 7,000 jobs and integrate solar power plants with 5,440 MW capacity, contributing significantly to the green energy transition and the state's socio-economic development.
Adani Group partners with Indorama for petchem foray
Adani Enterprises Ltd, "has completed the incorporation process of a joint venture company namely Valor Petrochemicals Ltd (VPL)... with Indorama Resources Ltd, Thailand," AEL said in the filing. The company further added, "VPL is incorporated with the object to set Refinery, Petrochemical and Chemical business."
Adani teams up with Thailand's Indorama for petrochemical foray
Billionaire Gautam Adani's group, through Adani Petrochemicals Ltd, has formed a joint venture with Thailand's Indorama Resources Ltd to enter the petrochemical sector. The 50:50 partnership aims to establish a refinery and several petrochemical facilities. The initial project includes a 2 million tonne PVC plant in Gujarat, with phased development leading to 2027.
India's petrochemical sector to grow over three-fold to USD 1 trillion by 2040: Hardeep Puri
India's petrochemical sector is experiencing remarkable growth, projected to reach USD 300 billion by 2025 and potentially USD 1 trillion by 2040. Driven by a rising population and government initiatives, the sector is attracting significant investments and aims to reduce import dependency while creating a sustainable future.
Must Watch
Top banks keen to share project loan for Adani Enterprises
Bank of Baroda (BoB), Punjab National Bank (PNB), Union Bank of India, Central Bank of India, ICICI Bank and Axis Bank have either committed or are in the process of committing funds to the $4-billion polyvinyl chloride (PVC) project at Mundra in Gujarat, people familiar with the developments said.
India eyes $87 bln investment in petrochemicals sector over next decade, says Hardeep Singh Puri
India is set to receive $87 billion in investments over the next decade to meet rising petrochemical demand. As per Oil Minister Hardeep Singh Puri, India's petrochemical sector, valued at $220 billion, might grow to $300 billion by 2025. Companies like Haldia and ONGC have committed $45 billion toward this goal.
HPCL seeks large-scale investment in petrochemical manufacturing capacities: Chairman
Hindustan Petroleum Corporation (HPCL) is actively investing in petrochemical manufacturing capacities through joint ventures, aiming to expand its portfolio as stated in their annual report. They are constructing India's first integrated grassroots refinery cum petrochemical complex in Rajasthan, with a high Petrochemical Intensity Index. HPCL also established a strategic business unit for petrochemicals and incorporated a subsidiary, HPCL Renewable & Green Energy Ltd., to focus on sustainability and expand into green energy businesses.
Adani Group to commission $4-billion petchem project by next year
The Adani Group will commission the first phase of a $4 billion PVC project by December 2026, entering the petrochemicals sector. This project aims to address India's PVC demand-supply mismatch. The initial phase will produce 1 million tonnes per annum, with State Bank of India leading the financing.
Andhra govt, BPCL explore possibility of setting up Rs 70,000 cr petrochemical complex
Andhra Pradesh Chief Minister N Chandrababu Naidu met with Bharat Petroleum Corporation Ltd officials to discuss establishing an oil refinery and petrochemical complex, potentially attracting investments of Rs 70,000 crore. Naidu emphasized the state's strategic location and directed officials to prepare a feasibility report within 90 days. Additionally, Naidu engaged with VinFast's CEO to invite the Vietnamese automobile conglomerate to set up an EV and battery manufacturing plant in the state. Both initiatives reflect Naidu's commitment to fostering industrial growth and investment in Andhra Pradesh.
Haldia Petrochemicals seeks local Indian naphtha supplies amid Red Sea disruption: CEO
The company, which owns a naphtha cracker producing 700,000 metric tons per year in the eastern state of West Bengal, sources 50% of its feedstock from the Middle East and relies on local refiners like Indian Oil, HPCL and BPCL for the rest of its feedstock needs.
