IOCL invests INR 170 B in Odisha petrochem projects

10 September 2018

The Indian Oil Corporation Ltd (IOCL) will invest about INR 170 B in three petrochemical projects in Odisha to produce polyester fibre to be used as feedstock in a textile park in the state.

Petrochemical Project
Source: Google

The IOCL plans to set up PTA (Purified Terephthalic Acid) and MEG (Monoethylene Glycol) plants within its refinery complex at Paradip.

The work on the PTA and MEG plants will start this financial year and is expected to be commissioned in three years' time.

While the PTA plant of 1200 KTA (kilo tonne per annum) will cost about INR 45 B, the MEG plant of 357 KTA will come up at an estimated expenditure of INR 100 B.

Both the projects will use naphtha from the IOCL's Paradip refinery to make PTA and MEG which will then be converted into polyester yarn and staple fibre at INR 20 B facility at the proposed textile park near the coastal city of Bhadrak in Odisha.

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