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Business EconomyPosted at: Sep 21 2018 10:00AM


Framework in the offing to facilitate entry of Indian companies into foreign land : Raghavendra

Kolkata, Sep 21 (UNI) India is trying to develop frameworks to facilitate the entry of Indian companies into foreign lands, including Africa, which are rich in natural gas to boost its supply of feedstock.
Speaking to the media on the sidelines of chemical and petrochemical industry meet, organised by FICCI here last night, Secretary of the Department of Chemicals and Petrochemicals P Raghavendra Rao said, '' The option of exploring foreign shores for Indian companies to open units in the regions with ample reserves of natural gas is open. ''
“ We should develop a business-friendly environment, facilitate and let our companies strike deals with those countries, ” he said and added that such companies could supply ethanol and methanol back to the country.
Asked if government was in talks with any country for procurement and supply of naphtha, he said the government can create a passage for private companies in countries with abundant supply of natural gas through agreements.
He cited the example of Africa as one such region, and said significant developments were being made in the direction during a reply to a query about India’s late entry into the continent which China had entered some 15 years ago.
The top bureaucrat said supply of feedstock was a major factor for the success of Petroleum, Chemicals and Petrochemicals Investment Regions(PCPIR).
“ How the companies in the PCPIR region will get feedstock in terms of ethylene, propylene and other aromatics at appropriate rates and in sufficient quantities is a major issue, ” he said.
He said it was vital for the PCPIRs to have crackers to ensure supply of ethylene and propylene, otherwise, it was not possible to develop the downstream roots. “We just can’t have units that produce polyethylene and polypropylene as the supply of feedstock for other companies in need has to be ensured,” he said.
He said there has been a shift in government’s role in the development of PCPIRs. Earlier, the government was looking at developing facilities outside the boundaries of the PCPIRs, but now it was also looking at developing everything that a business would need to thrive in the region.
Roads, water, waste management and every other non-core aspect of the business will be taken care of by companies that specialise in them, he said.
“ Anyone opening their operations in a PCPIR should be able to concentrate in their core business, and we will make sure that they get what they need at reasonable rates, '' he informed.
He said a committee was studying the challenges and options and several models were being studied for the growth of the special zones dedicated to petroleum, chemicals and petrochemicals.
The senior official said though there were suggestions that a PCPIR should have at least 100 sq km, 250 sq km of non-processing area, proposals with smaller areas could be considered if challenges associated with the investment regions were resolved.
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