GUWAHATI, May 25 � �The average per capita consumption of petrochemical in India per head is 8.759 kg, whereas in the North East it is only 3.75 kgs.� said Surjit K Chaudhary while addressing the audience at an interaction held at Tinsukia recently, a press release stated.
A high-level Government delegation which is on a visit to the North East, interacted with local entrepreneurs at Tinsukia at a meeting jointly organised by FICCI and BCPL and aimed at promoting plastic industry in the North Eastern States.
Surjit K Chaudhary, Secretary, Chemical & Petrochemical,Union Ministry of Chemicals & Fertilizers led the delegation to three States in the region viz Meghalaya, Manipur and Assam. He was accompanied by representatives of the Ministry of MSME, Ministry of DoNER, Director General of CIPET, Managing Director of Brahmaputra Crackers & Polymer Ltd (BPCL) and Federation of Indian Chambers of Commerce & Industry (FICCI).
It is noteworthy that the Brahmaputra Cracker and Polymer Limited (BPCL), a CPSE under the administrative control of the Union Department of Chemicals & Petrochemicals is executing a major gas cracker project in the North East. The project is likely to be commissioned by June next and will have a capacity of 2,20,000 tons per annum (TPA) of polyethylene and 60,000 tons per annum (TPA) of polypropylene. The BCPL plant is mechanically complete and is expected to be commissioned by June 2015.
The Government of India has invested about Rs 10,000 crore in this project and is keen to ensure that the project benefits the region. �Pricing BCPL polymer would be kept competitive for the North East market.� added Chaudhary. �The Centre is focussed on generation of 1 lakh jobs in the North East through development of the plastic industry� he said.
�As on date, the overall physical progress of the project achieved is 99.74 % and the overall financial commitment is Rs 8615.27, i.e., 96.58 % as on May 15, 2015,� said PN Prasad, Managing Director of BCPL while addressing the audience. Prasad urged the entrepreneurs of the region to come forward and take initiative to invest in the plastic industry. BCPL intends to carry forward the good work in the days ahead with increased focus.
The plastic industry is significant to the economic development and growth of various key sectors in the country, including automotive, construction, electronics, healthcare, textiles, and FMCG etc. The demand for plastic has been growing rapidly at ~10% CAGR over the last few years. To capitalise and further enhance growth, a special thrust is being laid on manufacturing and infrastructure, which are imperative for job creation and inclusive development.
FICCI in a statement said that in India, 7-8% GDP growth is achievable in next 12-18 months. As the Indian economy gath
ers steam and the pace of growth changes with the increased focus on manufacturing, the demand for plastic is also expected to grow manifold. A FICCI study indicates 10% growth for the plastic processing industry over the next few years and the market is expected to reach 18 million tons by 2018.
The North Eastern region also consumes a wide range of plastic/polymer products. �However, the penetration level of plastic/polymer products in the region is much less as compared to the national levels.� said Biswajit Chakrabarty.
Swapnanil Barua, State Commissioner of Industries, Ibotomba Singh, Chief Manager of the Central Institute of Plastics Engineering and Technology (CIPET), OP Tailor, Director (F),Brahmaputra Cracker and Polymer Limited (BPCL), B Sinha, DGM (PC Marketing), GAIL were some of the other speakers at the meeting.
The key stakeholders of the region from the Government and private sector were present at the deliberations in order to chalk out the way forward for the industry, the release concluded.