Indian company makes ‘unprecedented’ petro-chemical project in Madhya Pradesh
MADHYAPURAM: India’s petro chemical company, Sadara Petrochemical Project (SPP), has completed a major project to convert a massive hydropower dam on the outskirts of Madhya India’s biggest city into an electric plant, which will create thousands of jobs.
The project, which began in the summer of 2016 and is slated to be completed by 2019, will use three main components: a 1,200-megawatt hydroelectric plant with the capacity to generate 6,000 megawatts, a 250-megowatt solar thermal plant with a capacity to produce 4,000 MW and a 300-megawar thermal plant that will produce 1,400 MW.
The plant, estimated to cost around Rs.5,000 crore, is being built by the Bharatiya Mahila Andolan Limited (BMAAL), a subsidiary of the Petrol Corporation of India (PCI).
Petrochemical plants are an emerging industry in India, and India’s largest company, Sinopec, is the world’s largest producer of petro chemicals.
SPP plans to begin producing its petro products domestically by the year 2023.
“Our objective is to make the plant operational by 2019,” said Rajesh Jain, chief executive officer of SPP.
“We are in talks with a number of power companies in the country and they are also in talks.
The project is being done in partnership with Bharat Heavy Electricals, which is the only Indian company that will supply us with electricity.”
Sinopec was granted a licence for the plant in February.
The company, which has a presence in Madhavpura, is a joint venture between Sinopech Ltd and the state government of Madhavi, which includes the area of Sadar.
The Madhya state government, however, has not made the project official yet.
A government spokesperson said, “We have to wait for the project approval.
It is the state’s responsibility to make such decisions.
If they are not in agreement with the state, then they can take it up with the National Green Tribunal.”
The spokesperson added that the project is expected to create 2,000 jobs and boost the state economy by as much as 10 per cent.
“It is a project that has been going on for a long time.
We have been working on this project for the last three years and the plant is expected be completed in 2020,” said Prashant Sharma, the general manager of Sinopek.
“This is a massive project that will bring jobs to the area and create jobs for Madhya residents.
This project will also help in the development of the state.
We are happy that this project is going ahead.”
The project has already generated more than 50,000 tonnes of water, which the company is planning to export to Madhya as well as help in expanding the state water resources.