Under the terms of the MoUs, Nayara Energy has committed to invest $850mn towards phase 1 of the expansion plan, which will see the establishment of new refinery and petrochemical units. This investment will contribute significantly towards the development of Devbhumi Dwarka district as a petrochemical hub in India.To further its commitment Nayara Energy will initiate smart agriculture and water conservation programme in 11,000 hectors in Devbhumi Dwarka.
B Anand, chief executive officer of Nayara Energy, said: “We are delighted to partner with the
Government of Gujarat and work towards the common purpose of inclusive growth. With our investments and the retail expansion that is underway, we plan to optimise India’s energy basket and offer energy to everyone.”
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