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India Needs to Invest $10 Billion to Meet Growth in Plastics Demand

10:08 AM MDT | May 4, 2010 | Natasha Alperowicz

India will need to invest about $10 billion through 2016 to meet the huge increase in demand for plastics, according to Kamal P. Nanavaty, president cracker, polymers and chemicals sector at Reliance Industries (RIL) and chairman of the Asia Petrochemical Industry Conference (APIC) coordination committee. He was speaking ahead of next week's APIC, which will for the first time take place in India and its main theme will be Vision 2020. India's consumption of plastics will double in the next five to six years from 8 million m.t./year last year, Nanavaty says...

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