Nayara Energy, which operates a 20-million-capacity oil refinery is embarking on expansion and diversification programmes to enhance its presence in the petrochemical and alternate energy sectors, and meet the country’s rising energy needs. The overall objective is to diversify its product portfolio and harness opportunities in the high growth petrochemical industry while also serving domestic energy needs.
The company, which has 6,300 retail outlets now, proposes to expand the network by over 50 percent by 2030, with most of these outlets will be on franchise models, to bring in agility for the launch. To further support retail operations, it has operationalized company-owned depots in Warda in Maharashtra and Pali in Rajasthan.
Nayara Energy is also going ahead with its plan to commission a polypropylene unit at Vadinar, Gujarat and expects to commission the plant in H1/CY24 with a total investment of USD 750 million.
To be future-ready, the company is also exploring various initiatives in non-fuel retail, and alternate fuels including solar installations, green hydrogen and EV charging points. Multiple non-fuel retail (NFR) opportunities, identified under food, auto services and other services categories have led to a pilot programme underway to test these before mass rollout of NFR across the network.
Nayara Energy delivers approx. eight per cent of India’s refining output, and the investment under evaluation includes expansion of existing refining capacity and setting up of new petrochemical units including an integrated expansion.
The key ongoing projects for improving product availability include revamping the existing vacuum gas oil (VGO) mild hydrocracking (MHC) unit, which would help in incremental supplies of high speed diesel (HSD).
