Gujarat Signs Rs 67,000cr 11 MoUs for Petrochemical Industry Growth
At a pre-Vibrant Gujarat Global Summit event in Bharuch, 11 memoranda of understanding (MoUs) have been signed, indicating a potential investment of Rs 67,000 crore. These agreements are focused on advancing the petrochemical industry in the state, which is emerging as a hub for specialty chemicals. The chemical and petrochemical sector is expected to play a leading role in the upcoming Vibrant Summit in 2024, contributing significantly to the sustainable growth of the industry. Gujarat holds a prominent position in India's petrochemical industry, employing around two million workers nationwide. In 2017-18, Gujarat contributed $31.5 billion to the $94.6 billion chemical industry in India. The state's refining complexes with a combined capacity of 102 million tpa play a pivotal role in its $50.8 billion contribution to the overall coke and petroleum industry, valued at $137 billion.
📅Published on:
27 December 2023
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