OREANDA-NEWS. IndianOil organised the 4th edition of the Petrochemical Conclave today at The Leela, Ambience Gurgaon Hotel & Residences, Gurgaon, which brought together luminaries from global and Indian petrochemicals industry to deliberate on the theme 'Petrochemical Beckons - Make in India'. Mr. Ananth Kumar, Hon'ble Union Cabinet Minister, Ministry of Chemicals & Fertilizers, Government of India was the Chief Guest for the occasion and was accompanied by Mr. Surjit Kumar Chaudhary, Secretary (C&PC), Deptt. Of Chemicals & Petrochemicals, Ministry of Chemicals & Fertilizers, Mr. B. Ashok, Chairman, IndianOil, Mr. D. Sen, Director (P&BD), IndianOil, Mr. S. Mitra, ED (Petrochemicals), IndianOil, Mr. Avinash Verma, GM (Petrochemicals), IndianOil and other senior officials from the Ministry of Chemicals & Fertilizers, Govt. of Odisha and IndianOil.

Speaking on the occasion, Chief Guest, Mr. Ananth Kumar, Hon'ble Union Cabinet Minister, Ministry of Chemicals & Fertilizers, Government of India said that to promote investment in petrochemicals sector and make the country an important hub for both domestic and international markets, the government endeavours to provide a transparent & investment friendly policy under a regime where the integrated Petroleum, Chemicals & Petrochemical Investment Regions (PCPIRs) may be set up. The PCPIRs would reap the benefits of co-siting, networking and greater efficiency through the use of common infrastructure and support services. Further, he urged the Petrochemicals fraternity to come ahead with a move-forward paper, incorporating all the suggestions and new ideas emanating out of the discussions at the Conclave. He also advised that new locations must be identified for setting -up petrochemicals units in various states and emphasised on the need for establishing institutes to teach and mentor petrochemical technicians and executives.

Mr. Surjit Kumar Chaudhary, Secretary (C&PC), Deptt. of Chemicals & Petrochemicals, Ministry of Chemicals & Fertilizers stated that future belongs to plastics and polymer industry as it will play a vital role in realizing the economic aspirations of a developing India. He appreciated the role played by IndianOil in strengthening the domestic petrochemicals segment making way for self reliance.

Mr. B. Ashok, Chairman, IndianOil highlighted the potential in Indian sub-continent which accounts for approximately 23% of the world's population but has the lowest per capita plastic consumption indicating a huge potential for the growth of Chemical and Petrochemicals industry in our own neighborhood. He added that one such PCPIR is planned at Paradip on the east coast around IndianOil's 15 MMTPA integrated Refinery and Petrochemicals complex. Speaking of IndianOil's foothold in Petrochemicals industry, Mr. Ashok said that IndianOil in a short span of time has become the second largest player in the domestic Petrochemicals segment and is growing aggressively through focussed investments in this sector.

Earlier in the day, guests and delegates were accorded a warm welcome by Mr. D. Sen, Director (P&BD), IndianOil. In his address, he said that besides tapping niche segments which leads to import substitution and conservation of valuable foreign exchange, IndianOil is also looking at consolidating across various segments like Olefins, Polyesters, Surfactants and Elastomers. There is a need to look at the possibility of pooling of Naphtha on a collaborative basis not only on intra-company but also on inter-company basis, he added.

The event witnessed overwhelming participation from global industry experts who engaged in vibrant discussions on a wide range of issues relating to Upstream Upheavals and the Impact on the Petrochemicals Business, the Outlook for Olefins and Polyolefins in light of the Great Energy Price Deflation, Polyester Chain Dynamics in South Asia, Skill Development in Petrochemicals and Sunrise in the East - Odisha PCPIR.