Haldia Petrochemicals (HPL), the biggest investor at ‘Make in Odisha 2018’ conclave, plans to deploy an innovative technology for its project that seeks to convert crude oil into chemicals and petrochemicals directly.
As opposed to the customary production of refined petroleum products, HPL’s plant will concentrate on higher output of petrochemicals.
“They will be setting up the refinery to produce chemicals and petrochemicals. The direct conversion of crude to petrochemicals will be the first of its kind in the country unlike other refineries, which are producing petroleum products. Such technologies are used widely in China,” said an official privy to the development.
HPL, the West Bengal-based petrochemicals company, is setting up an integrated refinery with aromatic complex for production of paraxylene and purified terephthalic acid (PTA) units in the first phase. The production capacity of paraxylene unit will be 1.6 million tonne per annum (mtpa) and PTA will have 2.5 mtpa capacity.
The first phase of the HPL project approved is expected to be operationalised within five years of allotment of land.
HPL has committed an investment of Rs 28,700 crore ($4.05 billion) in the first phase on its Odisha project.
Officials at HPL could not be contacted for their comments.
Recently, the High Level Clearance Authority (HLCA) in Odisha headed by Chief Minister Naveen Patnaik gave its nod to the proposal, which HPL submitted on March 1. Official sources have touted HPL’s proposal as the country’s single-largest domestic investment in the last 12 months.