Shillong:
A Rs 10,000 crore Gas Cracker Project will be commissioned next month in Assam, officials of the Union Ministry of Chemicals and Fertilisers said in Shillong today.
The project, executed by the Brahmaputra Cracker and Polymer Limited (BPCL), a major PSU of the Union Chemicals and Petrochemicals Department, would have a production capacity of 2,20,000 tonnes per annum of polyethylene and 60,000 tonnes per annum of polypropylene, the officials said.
At an interaction with a government delegation for promoting and development of Plastic Processing Industry in the North Eastern states, Federation of Indian Chambers of Commerce and Industry (FICCI), North East head, B Chakraborty said plastic industry was making significant contribution to the economic development and growth of various key sectors in the country such as automobile, construction, electronics, healthcare and textiles.
He said the demand was growing rapidly at 10 per cent over the last few years on the basis of Compound Annual Growth Rate (CAGR).
While the North Eastern region also consumes a wide range of plastic/polymer products, the FICCI official noted the penetration level of these products was much less, compared to the national level.
To further enhance the growth, a special thrust was being laid on manufacturing and infrastructure, which were imperative for job creation and inclusive development, Mr Chakraborty said.
As the Indian economy gathers steam and the pace of growth changes with the increased focus on manufacturing, the demand for plastic was also expected to grow manifold, a FICCI statement said.
A FICCI study indicated ten per cent growth for plastic processing industry over the next few years and the market was expected to reach 18 million tons by 2018.
Apart from officials from the Union Ministry of Chemicals and Fertilisers, leading stakeholders in the region also took part in the deliberations.