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Haldia Petrochemicals to Revive Nagarjuna Refinery and New Petchem Facility

The international energy market has been notified of the substantial growth of the petrochemical sector projected to take place over the coming years. Petrochemical production has become the latest must-have energy project for a litany of nations around the world. India is one nation that has expressed its lofty ambitions for the petrochemical sector and has recently revealed that Haldia Petrochemicals is set to revive the Nagarjuna refinery alongside a new petrochemical facility in the near future.

The company has stated that it plans to construct crude oil and downstream units alongside a new petrochemical facility as part of an oil-to-chemicals project, which it expects to be completed around mid-2026. Haldia Petrochemicals is a subsidiary of the Chatterjee Group, and according to the company’s CEO, Navanit Narayan, it is currently in discussions with both local and international companies to form a new partnership.

The company aims to develop several new facilities in Cuddalore, Tamil Nadu.

The astonishing growth of the Indian energy market has been a sight to behold in recent years. Haldia has noted that the plan is to undertake a $10 billion investment drive as part of the company’s broader refinery and petrochemical expansion. The company’s CEO highlighted the market potential and emphasized the significance of the project to boost the Indian energy market capacity.

Amid the calls to diversify the global energy market portfolio to include more projects that can reshape the international industry, a new wave of petrochemical refineries has swept across the world like a storm of chemical production. The astonishing growth of the sector has been led by several Asian and Middle Eastern nations, all hoping to cash in on the latest energy production trend.

India has become a regional leader in the petrochemical sector through several new projects that will substantially boost the nation’s petrochemical capacity in the near future. Haldia Petrochemicals has now stated that it aims to revive the 125,000-barrel-day Nagarjuna Refinery in India after the project was put on hold due to financial constraints.

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