The chemicals sector in Andhra Pradesh is poised for significant growth as the state has earmarked it as a priority sector.

Speaking at the recently held India Speciality Chemicals Conclave organised by ASSOCHAM Andhra Pradesh economic development board’s CEO, Mr C M Saikanth Varma, IAS, said that the scope for growth in Chemicals sector is phenomenal and that the Specialty Chemicals is a priority sector where the state is keen to attract investments.

“The country’s largest petrochemical hub is proposed to be set-up in Mulapeta where a deep sea port is also under construction” said APEDB’s CEO.

He further noted that the state also has one of the most conducive Industrial Policy in the country right now. “Mega and ultra-mega investments above Rs 1000 crores and above Rs 5000 crores respectively are eligible for tailor made incentives where the investors can put forth their wish list and the government will try to meet them.

With three industrial corridors passing through the state, six operational airports and access to ports and connecting ports the state offers seamless conne- ctivity by road, sea and air” stated Mr Varma.

Speaking at an earlier session Mr Deepak Mishra, Joint Secretary, Petrochemicals, Department of Chemicals & Petrochemicals, GoI said “Research and develop- ment is crucial for speciality chemicals busi- ness as it is more of a know ledge centric business.