30 October 2007 22:32 [Source: ICIS news]
By Divya Chowdhury
MUMBAI (ICIS news)--Indian Oil Corp (IOC) is targeting a 2011-2012 mechanical completion and commissioning of the first phase of its refinery and petrochemicals complex at Paradip in Orissa state, a senior company official said on Tuesday.
The refinery will have a capacity of 15m tonne/year, while the aromatics complex would manufacture 1.2m tonnes/year of paraxylene (PX), two chains of polypropylene (PP) with a capacity of 800,000 tonnes/year and 600,000 tonnes/year of styrene, said S Bhatnagar, IOC chief manager-petrochemical projects.
The second phase will include the installation of a naphtha cracker along with downstream polymer units, additional PP, high-density polyethylene (HDPE), linear low-density polyethylene (LLDPE)/HDPE, monoethylene glycol (MEG), C4 and C5, Bhatnagar said at the sidelines of the Asian Chemical and Petrochemical Investment conference.
“Phase II should be completed and commissioned by 2013-2014,” he added.
“The market and configuration study is going on. Capacities and any additional products for phase two will be decided only once that is completed by March 2008,” he said.
The process design package for the process units under Phase I will be completed by December, he added.
The process licensors and project management consultants have been finalised, he added.
“IOC has formed a joint project management team with Foster Wheeler, which will do the front-end engineering design for phase I, which is expected to be completed by March 2008,” Bhatnagar said.
The project will then go to the company board for the final approval and investment clearance, he added.
“This is the time when we will get the in-principle approval from the board for phase II as well,” Bhatnagar said.
“To achieve world class capacity of 1.0m-1.4m tonnes/year of ethylene, feedstock from the refinery will be augmented suitably from other sources,” he added.
The Asian Chemical and Petrochemical conference, being held at Mumbai, is jointly organised by ICIS and Indian Chemical Council. The conference concluded on Tuesday.
($1 = Rs39.32)
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