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IOC Expanding Its Panipat Refinery by December 2009
In a recent official statement, the major state-owned oil explorer company, Indian Oil Corporation (IOC), has stated that it is going to expand the capacity of its Panipat refinery to 15 million tonnes a year by the end of 2009. The company said that it is also planning to complete a naphtha cracker complex by September, next year and all these are planned for the further expansion of the companys activities.

The Director (Refineries) of the Indian Oil Corporation (IOC), Mr. B N Bankapur was talking about the issue and said, "We will complete expansion from 12 million tonnes to 15 million tonnes by December 2009". He informed that the company is making an investment of Rs 806 crore for the expansion of the refining capacity. He added that the expansion will also make the unit capable of producing Euro-III and Euro IV petrol and diesel. He also said that the company did make a huge investment of Rs 4,165 crore in the last year for doubling the Panipat refinery capacity to 12 million tonnes.

Mr. Bankapur informed that the company is expecting the naphtha cracker, which will use the naphtha stream from the expanded refinery, to be completed by the month of September 2009. He added, "Both the expansion and naphtha cracker complex are to come together". He also gave an indication that the commissioning of the plant is going to be synchronised with the expansion. The sources from the company further informed that the complex is likely to help the company in producing Paraxylene and PTA that are mainly used in making Polyester Staple Fiber and Polyester Filament Yarn.

Posted On : 04 Sep 08
IOC Expanding Its Panipat Refinery by December 2009
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