Chennai Petroleum shelves plans for PP unit
11 July 2006 11:30 [Source: ICIS news]
NEW DELHI (ICIS news)--Chennai Petroleum, a subsidiary of state-owned Indian Oil Corp (IOC), has shelved plans for a proposed polypropylene (PP) unit in Tamil Nadu, an IOC official said on Tuesday.
However, the company was pursuing a proposal to expand its propylene capacity at Chennai to 110,000 tonnes/year from 30,000 tonnes/year. It also plans to increase its refining capacity to 11.2m tonnes/year from 9.5m tonnes/year.
The company had concluded that the 150,000 tonnes/year PP unit, which would have cost Rs11.56bn ($250.15m/Euro196.41m), was not viable due to competition from imports, said the official. The minimum viable capacity was 300,000 tonnes/year, he added.
The unit was to have used propylene from IOC’s Haldia refinery at
IOC has planned several PP units at the site, and these would get propylene feedstock from the refinery and the naphtha cracker.
By: Naresh Minocha
+65 6780 4359
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
| ICIS news FREE TRIAL |
| Get access to breaking chemical news as it happens. |
| ICIS Global Petrochemical Index (IPEX) |
| ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index |
Related Articles
- 09 Aug 06 03:25 India’s ONGC board okays Dahej petchem complex
- 12 Jul 06 07:54 Petchems barely affected by Mumbai bomb blasts
- 06 Jul 06 11:35 Indian July polymer offers up 2.5%
- 06 Jul 06 11:16 Indian petchem trades resume after floods
- 30 May 06 09:07 Indian Oil to award Panipat PE unit contract in June
Latest News
- 19 Jun 13 22:12 Biofuels still play key role in midst of shale revolution: exec
- 19 Jun 13 22:10 Shale gas, tight oil to make US short on benzene, long on xylenes
- 19 Jun 13 21:55 Researchers predicting large Gulf of Mexico dead zone
- 19 Jun 13 21:19 Biofuels to nearly double in road transport use by 2030: exec
- 19 Jun 13 21:13 US Fed says economy likely to make gains, but holds rate steady