Indian Oil Corporation’s (IOC) board has approved an investment of Rs 1,268 crore for setting up a needle coker unit at the firm's Paradip refinery in Odisha. The proposed unit will have a Calcined Needle Coke (CNC) production capacity of 56 kilo tonnes per annum. The estimated project cost is Rs 1,268 crore.
With the production of CNC, the company shall enter this niche product segment for the first time. CNC is used to produce graphite electrodes for deployment in high temperature (2,800 degrees Centigrade) electric arc furnaces of steel industry.
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.