Opportunities In Petrochem Sector Showcased At Industry Meet In AP

Visakhapatnam: An industry meet was organised by the Department of Chemicals & Petrochemicals and Federation of Indian Chambers of Commerce & Industry (FICCI) with the support of government of Andhra Pradesh on Friday.

This was for creating awareness and to invite participation for the forthcoming IndiaChem 2024 to be held in Mumbai from October 17 to 19.

FICCI AP member and CEO of Adani Gangavaram Port Amit Malik welcomed the gathering and stressed on the fact that chemicals play an essential part in our daily lives and how this sector can make a significant contribution to the GDP and employment.

Dr N Yuvraj, Secretary, Industries & Commerce, AP, drew attention to the long coastline available in the State as well as the six ports which can play a significant role in import and export, three industrial corridors which are coming up, large land bank and 900 kms of National Highway passing through AP as also a good railway network.

He requested the Centre to assist in identifying a suitable anchor investor so that the PCPIR can take off and to create special parks for the MSME sector which plays an important role in the overall economy. He assured full support from the State government in developing the chemicals & petrochemicals industry in AP.

Speaking at the event, Vizag MP M Sribharat mentioned the several advantages of AP-natural resources, presence of a large oil refinery, a vibrant pharmaceutical sector and availability of a large pool of qualified youth and workforce. He also highlighted the need to provide better access to funds for R&D whereby India can speed up the process of development of new drugs as compared to USA and other countries where it could take up to 10 years to clear a drug for commercial production. Another area which needs urgent attention is the growing problem of plastic waste leading to presence of micro plastics in all forms of life including humans and consequent health hazards, keeping in mind the expected growth of industry.

Joint Secretary in Department of Chemicals & Petrochemicals, Government of India Deepankar Aron gave an overview of the forthcoming exhibition and urged all concerned to actively participate and make full use of the opportunities that it will present-be it transfer of technology or manufacture of plant and machinery or supply of various inputs.