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MOSCOW (MRC) -- Union petroleum
minister Dharmendra Pradhan on 19 December inaugurated a lube blending
plant of Indian Oil Corporation (IOC) in the city, according to Energyworld.
With an investment of Rs 142 crore, the project generated nearly 72,000
man-days, a statement issued by the oil marketing PSU said.
The plant was
inaugurated in the presence of IOC chairman Shrikant Madhav Vaidya, it said. IOC
said the new plant will make the country self- reliant in the field of
lubricants.
Pradhan was quoted as saying that the unit is strategically
located near the port area and will have an annual throughput of one lakh
kilolitre.
As MRC reported
earlier, in August 2020, Indian Oil sai it will build an integrated paraxylene
(PX) and purified terephthalic acid (PTA) facility at Paradip in Odisha State,
India, at an estimated investment of 138 billion Indian rupees (USD1.84
billion). The project will be completed by early 2024, with the complex planned
to produce 800,000 metric tons/year of PX and 1.2 million metric tons/year of
PTA, it says.
PTA is used to produce polyethylene terephthalate (PET),
which is used in the manufacturing of plastic bottles, films, packaging
containers, in the textile and food industries.
According to MRC's ScanPlast report,
Russia's estimated PET consumption reached 59,310 tonnes in October 2020,
down by 8% year on year. Overall consumption of PET in Russiareached
589,580 tonnes in the first ten months of 2020, down
by 20% year on year.
Indian Oil Corporation Limited, or IndianOil, is an Indian state-owned oil
and gas corporation with its headquarters in New Delhi, India. |
