Paraffin wax market updates and plants turnaround
India will be able to produce enough paraffin wax that will stop its import. From textile designing to lamination, paraffin wax is used on large scale in the industry.
The Indian Institute of Petroleum (IIP) has developed technique of production of paraffin wax following which India will be able to produce 50, 000 tonnes of wax annually.
Presently, India imports 50 percent of paraffin wax. The demand for paraffin wax in India accounts to nearly one lakh tonnes whereas only 50, 000 tonnes could be produced.
To meet the demand, paraffin wax to the tune of Rs 450 crore had to be imported from abroad annually. According to senior scientist UC Agrawal, around 50, 000 tonnes of wax will be produced using the upgraded technique.
For larger production, a plant worth Rs 753 crore will be set up in Numaligarh of Assam.
American technology ineffective. According to chief technical officer Dr SK Sharma, paraffin wax is also produced in Digboi Refinery in Assam which operates on America’s Union Oil Company technique. “The problem is that the technique is not much effective. Despite its ability to produce 60, 000 tonne of wax, it only produces nearly 40,000 tonne,” said Dr Sharma.
“Till now wax could not be produced on a large scale due to absence of right technology,” he added.
Presently, wax is imported from China, Japan, Iran and Indonesia.
There are two ranges of paraffin wax. One category costs Rs 70, 000-90, 000 per tonne and the other category charges Rs 1.10 lakh per tonne.
India is the world’s largest networks, road and rail, the technical services market in the country is well on the way Indian can work with companies and technical and engineering services we have very good potential for is the presence in the Indian market.
Marine transport infrastructures relations between the two countries, the potential for agricultural cooperation between the two countries, the government pays special attention to the development of non-oil exports in the Vision Document of the Fifth Development Plan, the existence of free trade zones and … among the strengths of trade between Iran and India.
He added that India’s large population and huge market, dependence on the energy industry and the Indian economy, long-term and friendly political and economic relations between the two countries and is one of the opportunities for bilateral trade.
He said that Iranian companies to offer work, enter the Indian market, the company registered and work in this market.
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