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Indian Oil board approves Rs 42 bn ethylene glycol project in Paradip

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

Press Trust of India  |  New Delhi 

IOCL

State-owned (IOC) today said its board has approved a Rs 4,221 crore project to set up a petrochem project at in

The board, at its meeting yesterday, "accorded approval for implementation of 357 kilo tons per annum Ethylene Glycol Project along with associated facilities at based on of the Fluid Catalytic Cracking Unit at an estimated cost of Rs 4,221 crore," the company said in a regulatory filing.

would use by-products generated from refining at its 15 million tonnes a year refinery at 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.

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

First Published: Fri, April 27 2018. 18:27 IST
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