(plastemart) -- Indian Oil Corp cuts its polymer prices for the domestic market with effect from October 8, 2012, as follows:
- all grades of HDPE (except LBM) and LLDPE to reduce by Rs 2500/tonne;
- all grades of polypropylene and LBM to reduce by Rs 3000/tonne.
Besides, price protection has been withdrawn in PE/PP grades.
Indian Oil Corporation Ltd. is India's largest company by sales with a turnover of Rs. 4,09,957 crore (USD 85,550 million) and profit of Rs. 3,955 crore (USD 825 million) for the year 2011-12. IndianOil is focussing on strengthening its petrochemicals business by venturing into downstream polymer units, the production of which includes ethylene, PP, HDPE, LLDPE.
MRC