Page 17 - Plastics News September 2017

COMPANY NEWS

Indian Oil Corporation to invest Rs 32,000 crore to ramp up

petchem capacity

o meet the rising demand for petrochemicals, and Paradip refi neries. On the gas pipelines, he said, IOC
Tespecially plastics and polymers, largest public sector will have over 20,000-km of natural gas and liquid fuel
company Indian Oil will invest Rs 32,000 crore to ramp pipes by fi scal 2021. Currently, the oil and gas major has
up its output by fi scal 2021. This investment is part of 13,000-km of the 15,000-km operational pipelines, making
the overall Rs 1.8 trillion capex planned for the next it the largest player in the country.

Wacker expands polymer,
silicones labs in Dubai

acker Chemie AG is expanding its technical center
Win Dubai, United Arab Emirates, as part of an effort
to improve its presence in the Middle East and Africa.
Located at the Dubai Silicon Oasis (DSO), Wacker’s
technical center now has a dedicated laboratory for
polymer dispersions as well as an ISO-certifi ed lab
for developing and testing silicone elastomers for
growing industries such as energy and mold making.
fi ve to seven years, IOC chairman Sanjiv Singh said. The
petchem business contributes a quarter of the most
profi table PSU’s profi t, which rose to the highest at Rs
19,106 crore in fi scal 2017. Indian Oil has already executed
petchem projects worth Rs 20,800 crore and is close to
commission a Rs 3,150-crore polypropelene plant at its
15-million tonne refi nery at Paradip in Odisha. Addressing
the shareholders at the 58th AGM, the chairman said, “In
view of the growing demand for petrochemicals products,
especially for plastics and polymers, the company will
invest in capacity augmentation. The capex for this is
planned at Rs 32,000 crore over the next few years.”
The new projects include MEG (mono ethylene glycol),
PTA (purifi ed terephtalic acid) and petcoke gasifi cation
plants at the Paradip refi nery and value addition at C-4 The polymer lab, said the Munich-based specialty
and C-5 at Panipat and a polypropylene unit at Barauni chemicals company, will serve the region’s increasing
Refi nery, he added. Singh said the company reported its growth potential, particularly with regard to carpet and
highest profi t at Rs 19,106 crore in fi scal 2017 on the back energy applications.
of best ever sales, refi nery production and became the
“We are proud to say that our facility is the fi rst in
most profi table PSU. During the year, company’s sales rose
the region to offer both technical support and testing
to Rs 4,38,710 crore. On the overall capex plan, he said,
services for carpet manufactures, plus an ISO-certifi ed
the PSU has lined up a capex of Rs 1.8 trillion over the
silicones lab for high-quality, energy and mold making
next fi ve to seven years. “This capex is to scale up our
applications,” explained Cyril Cisinski, managing
investments in areas to ensure that IOC grows profi tably
director Wacker Chemicals Middle East. The upgraded
in terms of volumes and revenue. This will see investment
lab for silicone elastomers caters to the needs of
of around Rs 30,000 crore per annum in asset creation
customers of the energy, mold making and automotive
such as the expansion of the Gujarat, Barauni, Panipat
industries.
17 September 2017 | Plastics News