Prime Minister Narendra Modi Sunday dedicated to the nation an integrated refinery expansion complex of the public sector Bharat Petroleum Corporation Limited at the Kochi Refinery.
Minister of State for Chemicals & Fertilisers Mansukh L Mandaviya said the department of chemicals & petrochemicals has registered good progress by facilitating increased investments in Petroleum, Chemicals and Petrochemical Investment Regions (PCPIRs) for boosting industrial development and employment generation
BP's refining operations are exposed to high safety risks that can lead to deadly accidents and pollution as a result of slack data management and a lack of investment, according to a leaked internal report from 2015.
Reliance Industries will invest about $16 billion in expanding petrochemical production capacity and lower feed and fuel costs to boost profits.
The government has ordered state gas utility GAIL India Ltd to cut natural gas supplies of non- priority sectors like steel and petrochemicals so as to meet full requirement of CNG retailers like Indraprastha Gas Ltd.
RIL is investing over $12 billion over next four-five years in the refining and petrochemical industries.