Nayara Energy to expand business 50% by 2030, says Chief Alois Virag
India’s second-largest refinery Nayara Energy is going to expand around 50 per cent of business by 2030. Currently operating with 6000 retail outlet company has planned to open 3000 more retail outlets across the country, said Alois Virag, CEO, of Nayara Energy after meeting with Commerce and Industry Minister Piyush Goyal on the sidelines of the India-Italy CEO roundtable.
Nayara Energy Chief said that his company want to contribute to making India more self-reliant and self-sufficient with petrochemical production, which is why they set up 450,000 tonnes of polypropylene production by the end of this year.
‘We are analyzing and investigating the phase two investment, which would then add another 1.1 mn tonnes of polyethylene and 500,000 tonnes of polypropylene,” he said.Nayara Energy is a downstream company of an international scale with prominence across the hydrocarbon value chain from Refining to Retail. Nayara Energy’s single-site refinery at Vadinar, Gujarat contains a capacity of 20MMTPA, making it the second largest in India.
