Date:31/03/2006 URL: http://www.thehindubusinessline.com/2006/03/31/stories/2006033104260900.htm

Back IOC flags off petrochem complex at Paradip

Our Bureau

New Delhi , March 30

Indian Oil Corporation (IOC) has flagged off a 15-million tonnes per annum (MTPA) grassroots refinery-cum-petrochemicals project at Paradip in Orissa.

The project, besides the 15-MTPA refinery, consists of facilities for production of front-end petrochemicals, including paraxylene, polypropylene and styrene, together with a product pipeline from the refinery to Ranchi, an IOC release said. The project was cleared by the IOC board recently, the release said.

Giving the go-ahead for the refinery-cum-petrochemicals complex, the company board has sanctioned over Rs 1,100 crore for the initial activities for the project, including technology selection, basic engineering design, site-development activities.

As a first step, IOC has already installed a large crude oil terminal along with Single Point Mooring terminal on the coast for handling very large crude carriers (VLCCs) for its refineries at Haldia and Barauni and the same terminal will be expanded for receipt and handling of crude oil for the Paradip refinery, the release said.