Nayara Energy reports significant progress on its entry into petrochemicals

Nayara Energy Ltd, India’s second-largest private oil refiner, on Wednesday said it is on track for entry into the petrochemicals sector with the majority of work being completed on a propylene recovery unit.

Nayara, which operates a 20 million tonne-a-year oil refinery at Vadinar in Gujarat, has adopted a phase-wise asset development strategy to enter into the petrochemicals sector.