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Chemicals, petrochemicals are sunrise industries for TN: Minister
Tamil Nadu Minister for Industries Thangam Thennarasu on Thursday said the state government has leveraged investments for setting up three large petrochemical projects in Nagapattinam, Thoothukudi and in Cuddalore.
Speaking at the ‘Global Chemical and Petrochemical Manufacturing Hubs in India’ event held in Delhi, Thennarasu said the state government has categorised specialty and petrochemicals as sunrise sectors to extend financial support through additional incentives.
He said the government has leveraged investments for setting up of three large petrochemical projects in Thoothukudi, Nagapattinam and in Cuddalore.
“This will ensure supply of all required feedstock to strengthen and position the state as the petrochemical investment destination,” he said. The Chennai Petroleum Corporation Ltd has commenced work on the Rs 31,580 crore, 9 million metric ton per annum (MMTPA) grassroots refinery at Nagapattinam.
Interestingly, the Tamil Nadu government recently withdrew the bid for proposed Detailed Project Report (DPR) for the petrochemical cluster planned in Nagapattinam owing to opposition from the farmers and others.
According to Thennarasu, TN is the third largest contributor to the country’s chemical output housing more than 2,500 chemical industries with a strong chemical industrial ecosystem.