Nexxus Petro holds bio-bitumen license as India targets 40% import cost reduction

Nexxus Petro Industries Limited is strategically positioned to benefit from India's push for indigenous bitumen, driven by a 40% surge in international bitumen prices due to the West Asia conflict. India currently imports 54% of its 11 million tonnes annual bitumen requirement. Union Minister Shri Nitin Gadkari emphasized using bio-bitumen from agricultural waste, rubber powder, and waste plastic to eliminate import dependence. Nexxus Petro is among 15 companies licensed by CSIR-CRRI and CSIR-IIP to manufacture KrishiBind™ bio-bitumen from agricultural biomass. This license places the company at the forefront of supplying domestically produced, import-substitute bitumen, aligning with government policy, accelerating road construction under PM Gati Shakti and Bharatmala, and growing ESG imperatives.