IOC plans $5bn phase 2 Paradip polyolefins

20 December 2007 15:45  [Source: ICIS news]

NEW DELHI (ICIS news)--Indian Oil Corporation (IOC) plans a mixed feed cracker and downstream polyolefins unit under phase 2 of its refinery-cum-petrochemicals complex at Abhayachandrapur near Paradip port in Orissa, a Petroleum and Natural Gas Ministry official said on Thursday.

The official told ICIS news the public sector major IOC had tentatively estimated the phase 2 cost at Indian rupees (Rs) 150-200bn ($4-5bn). The entire olefins complex is planned for start-up in financial year 2013-2014.

It would utilise refinery offgases, naphtha and gas-oil as feedstock.

The downstream units would produce ethyl vinyl acetate, which is currently not manufactured in the country, polyethylenes, polypropylene, monoethylene glycol, polyvinyl chloride and a few other chemicals.

The Rs256bn first phase, comprising a 15m tonne/year refinery and four petrochemical units, is slated for commissioning in 2011-2012 with a product slate of paraxylene, styrene, polypropylene and alkylate.

IOC has already selected the process licensor for these petrochemical units.

($1 = Rs39.41)

By: Naresh Minocha
+65 6780 4359

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