06-09-2017 08:30 AM | Pooja Nevewani | My Indian Dream
Here comes good news for India’s fastest growing oil refining sector!
Here comes good news for India’s fastest growing oil refining sector. India has discovered a new market ‘Myanmar’ and has started exporting petroleum products to them by road.
India’s Numaligarh Refinery Ltd. Exported the first consignment of 30 tonnes of high-speed diesel to Myanmar by road. The consignment was despatched across the Moreh Custom Check Point on the Indian side and Tamu Custom Check Point on the Myanmar side. Numaligarh Refinery is working with Myanmar’s Parami Energy Group of Companies for the supply of diesel. Numaligarh Refinery is situated just 420 kilometre from India-Myanmar border. The Myanmar market for India which was $12 billion in 2016 has grown by 12.61 percent now. This trade with Myanmar is a part of Indian Prime Minister Narendra Modi’s goal of promoting India’s ‘Act East Policy’ and bringing about a strong hydrocarbon synergy with neighboring countries.
Also, India’s refinery capacity is increasing at a rate of 7 percent. India is now planning to build a refinery-cum petrochemical complex in Maharashtra with a capacity of 60 million tonnes a year.
Indian Oil minister Dharmendra Pradhan had visited Myanmar in February 2017 to talk and explore collaborations in the oil and gas sector.
Buy the My Indian Dream merchandise to support our various initiatives. The premium merchandise enables you to make a statement in style as well as enable our efforts.