Indian Oil Corporation’s (IOC) board has given its go-ahead for the implementation of an Integrated Para-Xylene (PX) and Purified Terephthalic Acid (PTA) complex project at Paradip, Odisha, at an estimated investment of Rs 13,805 crore at the Board meeting held on July 31, 2020. The PX-PTA complex shall be integrated with company’s Paradip Refinery, which is operational since 2015.
The PX/PTA project will be completed by early 2024. The petrochemicals complex will have a PX production capacity of 800,000 tonnes per annum, which would be the feedstock for production of PTA. The production capacity of PTA would be 1,200,000 tonnes per annum. PTA is the raw material for the production of polyester along with MEG. The company’s MEG production facility is already under implementation at Paradip and will become operational towards the end of 2021.
IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.
