Reliance aims to import 1.3 million tonnes-1.4 million tonnes of ethane in 2017-18, said Vipul Shah, chief operating officer for petrochemicals, Reliance, told reporters.
Reliance Industries Ltd (RIL) has received environment clearance for expansion and debottlenecking of its Dahej petrochemical facility in Gujarat at a cost of Rs 13,250 crore.
"Given depressed US ethane prices and rising production, we estimate an annual saving of USD 450 million from this feedstock substitution from FY18," CLSA said in a research report.
Jal Irani, senior vice-president - wholesale capital markets at Edelweiss Financial Services says US ethane will be a substitute for expensive propane and naphtha