Leading oil refinery of India IOCL is likely to invest Rs.34,000 crore on the petrochemical complex. The entire petrochemical complex is scheduled to be commissioned by 2021. The first unit of this complex is the polypropylene unit which is slated to be completed by December 2017. The unit estimated to cost Rs 3,150 crore got the investment approval of IOCL board in March 2014.
According to Sanjiv Singh, director (refineries), IOCL, the oil public sector undertaking (PSU) has commenced piling work on the unit. The polypropylene unit would have a capacity of 7,000 kilo tonne per annum (ktpa) and would be integrated with the oil refinery.
Two more projects under pipeline for the petrochemical complex - 1,200 ktpa purified terephthalic acid (PTA) plant and petcoke gasification-based synthetic ethanol plant. Both projects would, together, cost IOCL Rs 28,000 crore and are due to be commissioned by September 2021. With the availability of mono ethylene glycol (MEG) and PTA from these
