At meeting held on 16 March 2022
The Board of Indian Oil Corporation at its meeting held on 16 March 2022 has accorded its approval for implementation of Poly-Butadiene Rubber (PBR) Project at Indian Oil's Naphtha Cracker Complex at Panipat, Haryana at an estimated investment of Rs.1459 crore which is expected to be operational by 2025.The plant will have a PBR production capacity of 60,000 tonnes per annum based on state-of-the-art technology provided by Goodyear Tire & Rubber Company which is also the leading global manufacturer of automotive tyres. Butadiene is the primary raw material for the production of PBR which shall be available from existing Naphtha Cracker Complex of the Company.
Tyre industry is the largest consumer of PBR in India with more than 80%, while balance is for other industries such as footwear, conveyor belts, etc. In view of the present deficit in PBR production in India and the steadily growing demand, the demand-supply deficit is expected to grow considerably in the future. The implementation of the Project would reduce nation's import dependency for PBR, thereby, aiding to Atmanirbhar Bharat and Make in India vision for the nation.
With the commissioning of this project, the Petrochemical Intensity Index of Panipat Refinery & Petrochemical Complex will increase from 15.9% to 18.05% along-with other upcoming projects.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU