IOC Mulls Over Rs 30,000 Crore Spending On PP, EO, Acrylic & Acetic Acid Plants
IOC Mulls Over Rs 30,000 Crore Spending On PP, EO, Acrylic & Acetic Acid Plants
On PP, EO, Acrylic & Acetic Acid Plants New Delhi—
Indian Oil Corp. (IOC) is planning to invest more than Rs
30,000 crore in new polypropylene (PP), ethylene oxide
(EO) and acrylic and acetic acid facilities in India, according
to Indian sources.
As of PCN’s press deadline, IOC had not responded to a
request for confirmation that the company plans to build a
PP plant and EO unit at its Paradip refinery in Orissa,
India, and an acrylic and acetic acid facility in Gujarat.
In 2011, IOC said it was studying plans to build a
600,000-t/y PP plant in Paradip, increasing its PP capacity
at the site to 1.2-million t/y (PCN, 3 Oct 2011, p 1).
IOC and BP that same year signed a memorandum of
understanding to explore the potential for jointly establishing
a 1-million-t/y acetic acid plant in Gujarat (PCN, 5 Dec
2011, p 1). At the time, the companies said the plant
would be based on BP’s Cativa XL technology and was targeted
to come on stream in 2015.