Maharashtra Plans 5,000-Acre Chemicals Park Near Wadhavan Port
The state is finalizing a chemicals policy aimed at establishing a significant industrial hub by November.
Maharashtra aims to acquire 2,500 to 5,000 acres for a chemicals park near Wadhavan port.
The new chemicals policy is set to be announced in early November, focusing on long-term growth.
The chemicals sector in Maharashtra currently employs around 300,000 people and contributes significantly to national exports.
Maharashtra is on the verge of finalizing a dedicated chemicals sector policy, with Chief Minister Devendra Fadnavis announcing plans to establish a chemicals park near the Wadhavan port. The announcement is expected in the first week of November, as the state aims to bolster its position in the chemicals industry, targeting a USD 1 trillion sector by 2040.
The proposed chemicals park will span 2,500 to 5,000 acres in the Palghar district, strategically located near the upcoming Wadhavan port. This initiative is part of a broader effort to create a dedicated ecosystem for the chemicals industry, which has been identified as crucial for the state’s economic growth. Fadnavis highlighted that consultations with industry leaders, including executives from Reliance Industries and UPL, have been instrumental in shaping the policy.
Currently, Maharashtra hosts approximately 3,600 companies in the chemicals sector, contributing 19% to the sector’s gross value added and 17% of the country’s chemical exports. The industry is a significant employer, providing jobs to around 300,000 individuals. The Chief Minister emphasized the importance of the state’s port infrastructure, particularly the Jawaharlal Nehru Port Authority, which is the largest container port in India, in facilitating the growth of the chemicals sector.
The establishment of the Bhavya Rasayanik Park near Wadhavan is expected to enhance industrial connectivity and support the chemicals sector's development. This aligns with the Union government's initiative to create Bhavya Rasayan Parks across the country, aimed at fostering a robust chemicals ecosystem.
Union Minister for Chemicals and Fertilisers J P Nadda, who spoke at the event, reiterated the potential of the chemicals sector, currently valued at USD 220 billion, to reach USD 1 trillion by 2040. He emphasized the need for improved connectivity, supportive policies, and industry leadership to drive growth. Nadda also announced a new fund of Rs 1 lakh crore to promote research and innovation in advanced chemicals and petrochemicals, urging industry players to prioritize R&D efforts.
