07 February 2008 17:40 [Source: ICIS news]
NEW DELHI (ICIS news)--Indian Oil Corporation (IOC) is drawing up a list of prospective global suppliers of two co-monomers as a part of its initiative to gear up for production and marketing of polymers at its upcoming naphtha cracker complex at Panipat in Haryana, a company official said on Thursday.
He said the company would require 9,000 tonnes/year of butene-1 and 550 tonnes/year of octene-1 on staggered delivery basis over six months beginning June 2009. It has invited prospective suppliers to submit their expressions of interest.
The company would later decide the date for invitation of bids for supply of these two co-monomers required for production of linear low density polyethylene (LLDPE) and high density polyethylene (HDPE).
It has stipulated that all suppliers meeting the specifications for the two intermediates would be subject to review by its technology provider for polyethylene swing plant Nova Chemicals (International)?xml:namespace>
The company is also scouting for prospective consultants for setting up facilities for packaging and dispatching polymers from the petrochemical complex.
The Indian rupees (Rs) 144bn ($3.7bn) complex is slated for full commissioning by December 2009. The naphtha cracker was, however, scheduled for start-up by September that year.
The official said that IOC would start marketing outsourced polymers by end-2008 in the run-up to the complex's commissioning, but would procure polymer resins only from those firms that have the same technology collaborators as IOC.
($1 = Rs39.43)
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