Asia's third-largest economy annually consumes 25 million to 30 million tonnes of petrochemicals. India's per capita petrochemical consumption is about one-third of the global average. The NSE Nifty gained 57.2 points to 18,323.15. The 30-share BSE Sensex climbed 204.23 points to 61,965.56 in early trade. Get daily information on world market updates such as stock, index, news, analysis and more on your desktop, email and SMS with application. The proposed dual-feed cracker will also have capability to crack up to 40% liquefied petroleum gas (LPG), enabling the option to switch to less expensive feedstock to maximise margins. 10 hours ago &0183 &32 MUMBAI: Benchmark indices Sensex and Nifty began the trade on a firm note on Wednesday but later pared all the early gains amid weak trend in the global markets. GAIL is also exploring the possibility to acquire land in Madhya Pradesh, which neighbours Maharashtra, if a deal in Dabhol doesn't materialise, the person said. we are hoping to receive financial support from the state government," the source said. "We are trying to sort out challenges around acquiring land, most likely, in or around Dabhol. It covers multiple assets from BSE, NSE, MCX and NCDEX exchanges, so you can track Indices (Sensex & Nifty), Stocks, Futures, Options, Mutual Funds, Commodities and Currencies with ease. It is holding just below a 13-month high of 1.1096 reached last week. GAIL's communications office did not immediately respond to a request for comment. Track the latest updates on Indian and Global financial markets on your smartphone with the Moneycontrol App. The dollar index was last down 0.42 on the day at 101.42, after hitting 101.05, the lowest since April 26. The company plans to import ethane from the United States for the project, the source said. Get the latest real-time quotes, historical performance, charts, and other stock market data across major world indexes. GAIL operates a 5 mtpa LNG plant at Dabhol. GAIL is looking for land in the coastal region of Dabhol in Maharashtra state for the 1.5 million tonnes a year (mtpa) cracker project, one of the sources told Reuters. A cracker produces ethylene, required for products such as plastics.ĭemand for petrochemicals could nearly triple by 2040, according to estimates by top refiner Indian Oil, forcing companies to make big investments to set up new facilities across the country. Indian companies are boosting their petrochemical production capacity as the expanding economy boosts the need for goods ranging from plastics to paints and adhesives. GAIL (India) Ltd, the country's top gas supplier, plans to build a 400-billion rupee ($4.89 billion) ethane cracker near its liquefied natural gas (LNG) import plant in Western India, two sources with direct knowledge of the matter said, as it seeks to meet an expected surge in demand. Get all the pre-market stock information of how the US and Indian AdRs have performed overnight, how global markets are trading and also top market news at.
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