Indian Oil approves Rs 42 bn ethylene glycol project in Paradip
X
Waste Management Expo 2020 MAR 12&13 BIEC, Bengaluru, India

Indian Oil approves Rs 42 bn ethylene glycol project in Paradip

6:22 AM, 30th April 2018
Indian Oil approves Rs 42 bn ethylene glycol project in Paradip
India Oil logo at an outlet in India. (File photo)

NEW DELHI, INDIA: Indian Oil Corporation Limited (IOC) said that its board has approved a Rs 4,221 crore project to set up a petrochemical project at Paradip in Odisha.

The board, "accorded approval for implementation of 357-kilotons per annum ethylene glycol Project along with associated facilities at Paradip based on off-gas of the fluid catalytic cracking unit at an estimated cost of Rs 4,221 crore," the company said in a regulatory filing.

IOC would use by-products generated from refining crude oil at its 15 million tonnes a year refinery at Paradip to manufacture ethylene glycol.

In the plastics industry, ethylene glycol is an important precursor to polyester fibres and resins. polyethylene terephthalate, used to make plastic bottles for soft drinks, is prepared from ethylene glycol.

IOC said the major application of ethylene glycol is in the manufacture of polyester fibre, bottle grade chips and polyester grade chips. "The project would help in meeting the growing domestic demand of ethylene glycol in the country," it said.

© Press Trust of India 

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Total buys French electric utility company in €1.4 billion deal

PARIS, FRANCE: Total SA has entered into an agreement to acquire 74.33 percent stake in Direct Energie, a French electric utility company. The transac ...

Read more
Reliance Industries to buy 73 percent stake in Embibe

NEW DELHI, INDIA: Reliance Industries Ltd (RIL) said it has entered into agreements to acquire close to 73 percent stake in education technology provi ...

Read more
Major fire breaks at Banashankari Chemicals plant in Bangalore

BANGALORE, INDIA: A major fire broke out early Thursday morning in a prominent chemical plant in KIABD Industrial area at Malur, Bangalore, Karnataka. ...

Read more
TechnipFMC, Magma Global to collaborate on hybrid flexible pipes

LONDON, UK/ PARIS, FRANCE/ HOUSTON, US: TechnipFMC (FTI) has agreed to collaborate with Magma Global Ltd to develop a new generation of hybrid flexibl ...

Read more
Shell to sell West Qurna 1 oil field stake for $406 million

THE HAGUE, NETHERLANDS: Shell EP Middle East Holdings BV has agreed to sell the entire share capital of Shell Iraq BV (SIBV) to a subsidiary of Itochu ...

Read more
Saudi Aramco in talks to buy stake in Ratnagiri refinery, India

MUMBAI, INDIA: Saudi Aramco is seeking majority ownership of the proposed ?3-lakh-crore refinery-cum-petrochemical complex on the Indian west coast, m ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X