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Home / Knowledge / News / Textiles / Huge investments planned in petrochemicals sector

Huge investments planned in petrochemicals sector

17
Oct '08

As a part of the industralisation drive and to create more employment opportunities, along with taking advantage of the boom in the textile industry, Bolivia is expected to invest up to US $3.45 billion in the period 2008-13 in its petrochemical sector.

As per the strategy, Methane and Ethane are expected to be core areas of development. The idea is also to channelize the huge resources of natural gas towards the petrochemical industry.

On the anvil, is a 600,000 tons/annum ethylene/polyethylene plant at an estimated investment of $1.55 billion in the province of Gran Chaco. The output from this plant is anticipated to meet growing demands of US, Mexico, Europe and India.

Other investments in the sector include setting up of an ammonia/urea plant in Gran Chaco province and another plant to manufacture fertilizers in Carrasco province.

Fibre2fashion News Desk - India

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