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Issue 16 2020 - Indian Oil Corporation to build PX/PTA project

 Last Update: 2022-11-12
 Source: Internet
 Author: User

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Indian Oil Corporation

PX/PTA projects will be built

The Board of Indian Oil Corporation (IOC) has approved an investment of about Rs 138 billion (US$1.
84 billion) to build a combined paraxylene (PX) and purified terephthalic acid (PTA) project in Paradip, eastern Odysshab, which is expected to start production
in early 2024.
The petrochemical plant will have a PX capacity of 800,000 tons/year and will provide feedstock
for a 1.
2 million mt/year PTA line.

Sim Vidya, Chairman of the IOC Board, said the plant, together with the upcoming 357,000 mt/year ethylene glycol (MEG) plant in Paradip, will provide feedstock
for IOC's 300,000 mt/year textile yarn manufacturing project.
The company's MEG plant is expected to be commissioned
by the end of 2021.

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