• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

New Delhi , Sept. 2

Indian Oil Corporation Ltd is all set to emerge as a major petrochemicals player with plans to invest Rs 30,000 crore in the sector in the near future.

Revealing this, the Director (Refineries), Mr Jaspal Singh, said that after the success of its linear alkyl benzene plant in Gujarat, the company had recently commissioned the integrated paraxylene and purified terephthalic acid plant at Panipat Refinery.

Other projects

Also, as part of diversification into petrochemicals, a naphtha cracker/polymers project is being implemented at Panipat at a cost of Rs 12,000 crore. Besides, permission to go-ahead has been obtained for a 15-million tonnes per annum (MTPA) grassroots refinery-cum-petrochemicals project at Paradip in Orissa.

Addressing senior IOC officials on the occasion of the 43rd IndianOil Day on Friday, Mr Singh outlined the feats achieved by the company in general and the division in particular. He said that the IndianOil Day celebrations this year has coincided with the major feat of commissioning of the mega Panipat Refinery expansion project thereby doubling crude processing capacity to 12 MTPA. This has raised IndianOil group's share in the national refining capacity to 43.5 per cent, he added.

More Stories on : Outlook | Petroleum | Petrochemicals

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

Stories in this Section
ICSA to pay 30 pc dividend

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line