Govt to set up joint task force to explore value addition to by-products of petchem industry
NEW DELHI: Fertiliser and Chemicals Minister Mansukh Mandaviya on Wednesday decided to set up a joint task force to explore possibilities of utilising by-products of petroleum and petrochemical industries for producing crucial intermediates for pharma and agro-chemical industries.
A decision in this regard was taken in a meeting between department secretaries, top officials of PSUs and industry leaders. Minister of State for Chemicals and Fertilizers Bhagwanth Khuba as well as Secretary (Chemicals and Petrochemicals),
Secretary (Petroleum & Natural Gas), Secretary (Department of Science and Technology) were also present.
The meeting was held to discuss methodologies for adding value to by-products of the petroleum industry that go as raw material into downstream specialty chemical industry, an official statement said.
Mandaviya emphasised the need for India to go in for import substitution of the raw materials/intermediates, strengthen the existing ecosystem of PCPIR (Petroleum, Chemicals and Petrochemicals
Investment Region), encourage investments in cracker plants, and leverage the industrial strength of the sector for giving a boost to the speciality chemicals sector, it said.
According to the statement, Mandaviya “directed to constitute a joint task force” to identify such raw/starting materials/intermediates which are imported in high values and the country has the potential to produce these chemicals through value addition of by-products of petroleum industries and refineries.
He stressed on adopting the holistic approach for the chemical and petrochemical sector by creating synergies with other related stakeholders. The task force will be responsible for identifying the crucial intermediates and raw materials having multiple value chain applications in specialty chemicals including pharmaceutical and agrochemical industries.
Further, the task force will collectively work to promote ease of doing business by identifying solutions through Research and Development (R&D) and making suggestions to the government.