Nayara Energy to build polypropylene plant in India

27.08.2021       

Nayara Energy Company (India), where Rosneft owns 49.13%, announced that it was creating a petrochemical production. The company has signed a financing agreement with a consortium of banks led by the State Bank of India for a loan to be used to build a polypropylene plant. The new capacity will be built at the Vadinar refinery in Gujarat. The refinery already has land, so there is no need to acquire new land for the upcoming project. Dr. Alois Virag, CEO of Nayara Energy, said: “The credit line allows us to develop the company, to become one of the largest integrated energy and petrochemical complexes in the country. Demand for polypropylene is expected to grow by about 10% per year. The construction of the first stage of the petrochemical project is expected to be completed in 2023. Through this project, we aim to turn India into a world-class petrochemical hub.”
The Vadinar Refinery (Gujarat, India) is India's second largest modern refinery. Refineries account for approximately 8% of India's refining capacity. The refinery is one of the most modern and complex refineries with a Nelson Complexity Index of 11.8. The refinery is located on the west coast of India, which provides logistics to the Middle East and Africa,