The Indian company Nayara Energy, 49.13% of which is owned by Russia's largest state oil company - Rosneft, has launched a USD750 million petrochemical development program, .

　　“We are confident in the long-term potential of the Indian market and therefore acquired a stake in Nayara Energy in 2017. This transaction remains the largest foreign direct investment in the oil and gas sector of your country. A large-scale program of petrochemical production with investments of about USD750 million is being implemented now, "he said.

　　Nayara Energy has the second largest refinery in India with a capacity of 20 million tons per year. The Indian company has already launched a refinery development program: within the first stage, it is planned to build units for the production of polypropylene (PP) with a capacity of up to 450,000 tonnes per year.

　　Nayara Energy's business also includes a deep-water port that can handle VLCC class extra-large tankers and one of India's largest retail chains.