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Indian Oil Corporation Ltd (IOCL) aims to commission the polypropylene facility, the first unit of its proposed petrochemical complex at Paradip, by June 2018. The unit to have a capacity of 700,000 tonnes per annum would offer feedstock for polymer units in the region.
"Mechanical completion of the polypropylene complex would be done by June 2018. Within three months of the commissioning, we will start supplies”, said G S Singh, executive director (Paradip refinery), IOCL.
Singh said, 71 per cent construction work on the polypropylene unit has been completed. The unit is estimated to cost Rs 3,150 crore. IOCL has already invested Rs 2,000 crore on the project.
"The Paradip refinery is running at 100 per cent capacity and is rolling out BS-IV compliant products. From 2020, the refinery would be capable of products that meet BS-VI norms”, he added.
The polypropylene unit would make use of Spheripol Technology from Basell, Italy. The unit will be capable of producing different grades of polypropylene but will commence with the production of only homo grade initially. The major facilities envisaged under the project are coker LPG treater unit, warehouse for polypropylene storage and other associated facilities like flare and cooling tower.
Two more projects have been planned for the petrochemical complex- 1,200,000 tonnes per annum purified terephthalic acid (PTA) plant and petcoke gasification based synthetic ethanol plant. Both these projects would together cost IOCL Rs 28,000 crore and are due to be commissioned by September 2021.
With the availability of mono ethylene glycol (MEG) and PTA from these units, downstream industries like polyester chips, fibres, PET (polyethylene terephthalate) grade chips, PET film grade chips and polyester industrial yarn can be developed.
Total investment on the petrochemical complex is seen at Rs 34,000 crore. IOCL has pumped in Rs 35,000 crore on the crude oil refinery. The company is exporting about 10 per cent of its petroleum products from the Paradip refinery.
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