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IOC to set up a petrochemical complex at Paradip refinery

18 Mar 2014 Evaluate

State-owned Indian Oil Corporation (IOC) is planning to set up a petrochemical complex at its almost complete Paradip refinery in Odisha. In this regard, the company will invest Rs 7,650 crore in the next 3-4 years.

IOC will use propylene from cracked LPG and ethylene from refinery offgas to produce plastic that is used in manufacturing furniture, disposable cups and trays, printed packaging material, plain and transparent films, currency notes, food packets and pressure-sensitive tapes.

The 15 million tonnes Paradip refinery, being built at a cost of Rs 29,777 crore, is likely to be mechanically completed in next quarter, following which stage was commissioning of various units will begin.

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.

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Company Name CMP
Reliance Industries 1166.00
Indian Oil Corpn. 132.00
Bharat PetroleumCorp 301.00
HPCL 346.00
MRPL 164.70
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