Rajesh Kamath, CEO of ThyssenKrupp Industrial Solutions India, said that the refining and petrochemicals sector would draw approximately $30 billion in investment over the next eight years.
Kamath stated that the corporation is also “bullish” on the green hydrogen market.
Green hydrogen is a sunshine sector, and we are excited about green energy’s prospects going forward, but we see projects up to $30 billion still in the pipeline for the refining and petrochemicals sector. Refineries are building integrated petrochemical complexes. The government has declared that by 2034 that we want to be a petrochemical hub. So, in my view, refining will continue to move forward, he said.
He further said,” We are very bullish about the green hydrogen segment. India plans to manufacture a cumulative five million tonnes of green hydrogen by 2030 to meet its climate targets and become a production and export hub for the fuel. While some of the hydrogen would be used as fuel domestically, some would be transported. We have multiple projects coming up soon to set up ammonia facilities with capacities ranging from 500 tonnes per day to 5,000 tonnes per day.”
