06 May 2008 20:32 [Source: ICIS news]
NEW DELHI (ICIS news)--Indian Oil Corporation (IOC) may produce C4 and C5 derivatives to improve the viability of its upcoming naphtha cracker complex at Panipat in Haryana state, a company official said on Tuesday.
Producing C4 and C5-based petrochemicals would diversify the revenue stream of the cracker complex, allowing it to effectively compete against low-cost polyolefin producers, he said.
Planning for the project was still at an early stage, and the company would decide on the products following a market survey and other feasibility studies, he said.
The complex should be commissioned by December 2009. It is valued at Indian Rupees(Rs)144bn ($3.54bn).
($1 = Rs40.67)
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