PM Narendra Modi inaugurates OPaL's Rs 30,000-cr petrochemical complex

OPaL would use ONGC’s captive feed of C2+ streams (ie, ethane, propane and butane) from C2-C3 extraction plant, and naphtha from Hazira & Uran to produce polyethylene (PE) and polypropylene (PP).

Set up with an investment of Rs 30,000 crore, the plant is strategically located in the petrochemicals and chemical hub of the country with excellent connectivity, creating an integrated ecosystem. 

The project will further result in the growth of new downstream plastic processing industries in the country, generating further investment of Rs 40,000 crore and over 20,000 indirect employment opportunities, giving major thrust to government’s Make in India programme. The increased use of polymers will also reduce burden on traditional materials like wood, paper, metal and will help in conserving natural resources like water and energy and promote food safety & food conservation.

OPaL is targeting to corner a marketshare of 13 percent in the polymer sector by 2018. The company would also contribute in encouraging polymer consumption in the country & its products will be used for important sectors like infrastructure, housing, packaging, irrigation, automotive, healthcare etc. 

The average per capita consumption of polymers in India is 10 kg, compared to a world average of 32 kg. There is tremendous potential for growth of the sector catalysed by growth drivers such as increasing middle class, higher disposable income and urbanisation.

The petrochemical sector in the country has witnessed a robust annual growth of 10-12 percent in the last decade, and is expected to grow at a rate of 12-15 percent in the next decade.