India Plans 'Estates' For U.S. Chemical Manufacturers

ByBridgeNews India wants more investment from U.S. chemical and petrochemical manufacturers, and is offering them stakes in chemical "hubs." The Indian government recently sent Chemicals and Fertilizers Minister Suresh Prabhu to Houston to hold discussions with top executives of more than 50 U.S. chemical and petrochemical manufacturers to raise their interest. The new chemical hubs, to be called Comprehensive Chemical Estates (CCEs), will be clusters of modern manufacturing and research units for pharmaceutical and chemical products, the Indian government says. The CCEs would involve investments worth $8 billion and would be located in select centers of the country. The CCEs will have both the government and private investors as partners. Reports did not specify which U.S. companies India is targeting for investment.