Report Summary Examining the market expansion trends for petrochemical industry in India and the scope of business
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It is pertinent to note that an investment to the tune of approximately USD 5.2 Billion, is what Indian refining industry is anticipating till 2020 in developing its brownfield refineries. In this line India’s largest downstream player, IOCL also plans to invest about USD 27 Billion in coming 5-7 years to expand its refining capacity from 80.7 MTPA to about 150 MTPA through both brownfield and greenfield capacity creation. Not only this, but the other dominant industry players such as BPCL, HPCL etc. are also not far behind in catching up the footprints of IOCL in this regard. For instance, BPCL has invested an amount of USD 2.5 Billion in an Integrated Refinery Expansion Project at its Kochi refinery. Like this, there are many examples indicating the market size expansion of India’s Brownfield Refinery segment.
India is a major demand centre and supply hub of petroleum products in Asia. Infact, with demand for petrol growing at 6%, the country is anticipated to surpass China by 2018 becoming Asia’s fastest growing oil market. Having said that, despite this growing demand India might not see greenfield refinery capacities coming its way for atleast upcoming 2-3 years here on. But, this doesn’t fade way the investment attractiveness of the refining industry in India, as the country plans to focus on modernizing , technologically upgrading and capacity expansion of the already existing refineries.
Key Queries Resolved
Business Case In Indian Refineries Sector
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