18 June 2012 00:00 [Source: ICB]
Reliance Industries' petrochemical capacity in India is set to grow by 67% to 25m tonnes/year when all its ongoing projects come on stream, chairman and managing director Mukesh Ambani said.
"Our current capacity of petrochemicals is 15m tonnes spread over 10 manufacturing locations in India," he said at the firm's shareholders meeting. "Our aspiration is to be among the five largest and most profitable petrochemicals producers globally with a diversified portfolio on the Indian market."
The company's new projects "will transform our portfolio to include value-added products and higher-margin specialities," Ambani said. Projects include a gas cracker at Jamnagar "which will be among the largest in the world" and a world-scale 1.8m tonne paraxylene (PX) plant, he said.
Reliance is also doubling its purified terephthalic acid (PTA) capacity to 4.3m tonnes and expanding its polyester portfolio by 1.5m tonnes.
"Implementation of all our projects has begun in full earnest and we expect to see production from newly commissioned projects in phases starting from 12 months to 36 months from today," he said.
Increasing urbanization in India is a source of new demand for products, particularly plastics, fibers and chemicals in the areas of agriculture, housing, retailing, infrastructure, apparels and automobiles, Ambani said.
Banking on India's emergence as a hub for automobile production, Reliance is also building a new global scale business in elastomers. The company is also building an acetyls portfolio to cater for the rapidly growing coatings, adhesives and paints markets in India, he added.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
Sample issue >>
My Account/Renew >>
Register for online access >>
|ICIS Top 100 Chemical Companies|
|Download the listing here >>|
Asian Chemical Connections