The Hindu Business Line : IOC commissions PTA plant at Panipat refinery

Indian Oil Corporation on Tuesday said that it has commissioned the purified terephthalic acid (PTA) plant at its Panipat refinery in Haryana. With the commissioning of this plant, IOC's vision of becoming a major player in the petrochemicals business gets a big leap forward, a company statement said.

The PTA produced from the plant will be of superior quality, it claimed. The product will be used as raw material for manufacturing staple fibre, filament yarn, PET bottles, polyester film, and audio video tapes, for which the market is growing at a fast pace. The plant was inaugurated by Mr Sarthak Behuria, Chairman, IOC.

Speaking on the occasion, Mr Behuria said, "At IOC, we have identified the petrochemicals business as one of the prime drivers of future growth and to achieve this, we have drawn up an ambitious Rs 30,000-crore master plan. We are using product streams from our existing refineries to achieve better utilisation of the hydrocarbon value chain." The plan includes development of world-scale petrochemical hubs at Panipat in the North and Paradip on the East Coast, he added.

The Px-PTA complex, set up at a cost of approximately Rs 4,600 crore, will produce 3.6 lakh tonnes of para-xylene per annum, which in turn will produce 5.5 lakh tonnes of PTA per annum. Over 20,000 tonnes of benzene will also be produced per annum as a by-product from the complex. There is a flexibility of marketing para-xylene also.

More Stories on : New Projects | Petroleum

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Ace Motors launches battery-run bikes

Infomedia: Extra opportunity untangled

Easun rejects Siemens' open offer, declines NOC

HMA awards announced

Pondy must extend subsidised power tariff as promised: HC

HSBC Global sells Tata Steel shares

IOC commissions PTA plant at Panipat refinery

GM in tie-up with CNG kit supplier

Mansi Oil ties up with overseas co for biodiesel foray

Mahindra Gesco plans follow-on public issue

Wanbury scouting for European buys

Samsung India targets 20 pc revenue growth

Lupin's new HRD President