India's state oil refiners — long focused on churning out transport and cooking fuels — are planning a $35 billion push into petrochemicals to meet an expected surge in demand for goods ranging from plastics to paints and adhesives. The drive comes as the government seeks to promote durable, cheaper materials in industries such as farming and food packaging, while refiners eye long-term threats to their business from renewable energy and a shift to electric vehicles. India's per capita consumption of synthetic polymers, for instance, used to make various ...
Govt's refiners bet big on petrochemicals as industry reshapes
The govt is still formulating a national policy for petrochemical