Nagpur: The Maharashtra Industrial Development Corporation (MIDC) on Wednesday issued a work order to Engineers India Limited (EIL) to conduct a techno-economic feasibility study for a petrochemical complex in Vidarbha, following a long pending demand for the project in the region.
The project is aimed at producing primarily bulk polymers and attracting investment. The study is expected to be completed within the next 21 weeks, involving a total expenditure of Rs 2.49 crore.
Gold Rate
Thursday 13 March 2025
MIDC, which is a nodal investment promotion agency under the Government of Maharashtra, is exploring the possibility of setting up a standalone petrochemical complex at the Additional Butibori Industrial Area, where more than 1,500 acres of land is available. To undertake the feasibility study for the proposed petrochemical complex, a team of EIL experts visited the Additional Butibori Industrial Area to have a look at the proposed site and discuss the broad scope of the study.
Under the techno-economic feasibility study, EIL will carry out a configuration study with various downstream units and identify the best-suited configuration based on capital expenditures and operational expenditures. The delegation of Vidarbha Economic Development Council (VED) had previously raised the issue of the petrochemical complex during the recent Maharashtra State Assembly Session in Nagpur, where they met with Deputy Chief Minister Devendra Fadnavis and Minister of Industries Uday Samant.
This move is expected to bring new opportunities for investment and economic growth in the region. The study will help to determine the viability of the project, the potential costs, and the scope for investment. It is hoped that the project will lead to the creation of employment opportunities and development in the region, while also contributing to the growth of the petrochemical industry in Maharashtra.
President of VED Council Devendra Parekh said that the NGO has been consistently pursuing the issue for almost a decade. “The project is likely to be a game-changer for this region, which suffers badly due to high costs of all the petroleum products and various petrochemicals, including items of day to day life. Considering the distance factor from its present sources, logistics and other issues make it very expensive as compared to the other parts of the country,” he added.
Petrochemical complexes give more than 60 products directly and indirectly used by many sectors.“Therefore, the proposal, that a petrochemical complex be established near Nagpur, which would be commercially viable and feasible due to reasons of this central location and its social impact and prospects would be greatly enriching for this region too,” Parekh said.
