Published on August 30, 2017

With increase in demand for petrochemical produvts year over year, the public sector companies will invest Rs 32,000 crore to pust up the output by fiscal year 2021.

This investment is part of the overall Rs 1.8 trillion capex planned for the next five to seven years. Indian Oil has already executed petchem projects worth Rs 20,800 crore and is close to commission a Rs 3,150-crore polypropelene plant at its 15-million tonne refinery at Paradip in Odisha.

The new projects include MEG (mono ethylene glycol), PTA (purified terephtalic acid) and petcoke gasification plants at the Paradip refinery and value addition at C-4 and C-5 at Panipat and a polypropylene unit at Barauni Refinery, he added. On the overall capex plan, the PSU’s has lined up a capex of Rs 1.8 trillion over the next five to seven years.

This capex is to scale up our investments in areas to ensure that IOC grows profitably in terms of volumes and revenue. This will see investment of around Rs 30,000 crore per annum in asset creation such as the expansion of the Gujarat, Barauni, Panipat and Paradip refineries.