The Petronet LNG board approved the setting up of a petrochemical plant in Dahej, Gujarat with an estimated cost of Rs 20,685 crore.The project has got the required statutory clearances and will be ready in the next four years, CEO and MD of the company Akshay Kumar Singh said addressing the media.

According to a regulatory filing, “the project would bring revenue generation from sale of Poly-Propylene, Propylene, Propane, Hydrogen and Ethane. The project would also get benefited from utilising ‘ColdEnergy’ of PLL’s existing Dahej LNG terminal making this project energy-efficient."

The state-owned company plans to develop 25 hectares of green belt area in the region.The plant is expected to enhance the self-efficiency of the country in the field of petrochemicals, the filing said, adding that it would also facilitate a socio-economic uplift in the region through its huge planned investment and by creating a significant opportunity for direct and indirect employment.