IOC wraps study for petrochemical plant at Paradip
Indian Oil Corp. Ltd. (IOC) has completed a detailed feasibility study for setting up a polypropylene (PP) plant as part of a proposed petrochemical complex to be attached to its long-delayed 300,000-b/d, full-conversion refinery at Paradip, Odisha, on India’s northeastern coast (OGJ Online, Aug. 14, 2014).
The plant will have a production capacity of 700,000 tonnes/year and will cost about 31.5 billion rupees ($492.6 million), India’s Ministry of Petroleum and Natural Gas said on Dec. 17.
IOC’s board previously took an investment decision on the PP plant in March, according to the ministry.
The PP plant is scheduled to be commissioned during 2017-18.
In addition to the PP plant, IOC also has plans to set up additional derivative units at the Paradip petrochemical portion of Paradip for ethylene glycol, paraxylene and purified terephthalic acid, and petcoke gasification, according to Minister of Petroleum and Natural Gas Shri Dharmendra Pradhan.
Configured to process heavy and high-sulfur crude oil and to produce Euro 5-standard fuels, the $5-billion Paradip refinery, which began some start-up activities in early 2014, is slated to be commissioned fully by late-March or early-April (OGJ Online, Dec. 1, 2014).