Indian Oil Corporation Ltd is evaluating locations in Gujarat and Haryana, India, for setting up an eight-lakh tonnes-a-year naphtha cracker plant. The project, part of IOC’s plan for expanding in the petrochemicals business, is expected to be completed by first quarter 2007. IOC plans to invest Rs 6300 crore in setting up the greenfield naphtha cracker plant with downstream polymer complex and a stand-alone polypropylene unit. IOC is in the process of procuring technology for the plant. The bids have been called and it plans to take a decision shortly. The location for the plant will be decided within a month or so. This project follows two large IOC projects that are already being built are: production facilities for LAB (linear alkyl benzene) at Gujarat refinery scheduled for completion by June, and PX/PTA (paraxylene/purified terepthalic acid) at Panipat expected to be commissioned by May 2005.
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