MOSCOW (MRC) -- Indian Oil Corporation Limited (IOCL), India's largest refiner and oil marketing company, is establishing a refinery with the capacity of 15 million tonnes per annum at Paradip, Odisha, at an estimated cost of Rs.34,162 crore, reported Dishadiary with reference to the Minister of State (I/C) for Petroleum & Natural Gas Shri Dharmendra Pradhan, which informed the Rajya Sabha in a written reply on 17 December.
IOCL has reported that a detailed feasibility study for setting up of a polypropylene (PP) plant which is a part of proposed petrochemical complex attached to the refinery, has been completed. The PP plant is planned to be commissioned during 2017-18.
The PP plant will produce 700,000 metric ton per annum. The investment decision for PP plant has been taken by IOCL Board in March, 2014. Total estimated cost of the polypropylene project is Rs.3150 crore.
The company has also plans to set up units ethylene derivative project (ethylene glycol); paraxylene & PTA; and petcoke gasification based derivative.
As MRC wrote before, IOCL is conducting feasibility studies to set up a petrochemical complex at Paradip in Odisha for Rs 20,000 crore. The petrochemical complex would be built in the vicinity of the company’s to-be-commissioned 15-mln tpa greenfield refinery at Paradip.
Indian Oil Corporation Limited, or IndianOil, is an Indian state-owned oil and gas corporation with its headquarters in New Delhi, India.
MRC