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The undertaking shall be commissioned by FY27, IOCL stated.
IOCL stated on Wednesday that the corporate’s board has sanctioned the preliminary approval to arrange India’s first styrene monomer undertaking at an estimated value of `4,495 crore.
The undertaking, with a capability of 387 thousand metric tonne each year (TMTPA) shall be positioned within the firm’s Panipat refinery and petrochemical advanced.
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Styrene is used to supply a variety of finish merchandise together with polystyrene, paints, coatings and acrylic. India’s styrene consumption is round 900 TMTPA, and as there isn’t any home manufacturing capability, the complete demand is met by way of imports from Singapore, West Asia and Southeast Asia. The undertaking shall be commissioned by FY27, IOCL stated.
The undertaking goals to utilise the ethylene produced within the Panipat refinery’s upcoming INDMAX unit. he INDMAX unit is being constructed on the refinery beneath the lately authorized `32,946 crore enlargement programme.
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