New Delhi: Indian Oil Corp oration (IOC) will expand the capacity of its Panipat refinery to 15 million tons (MT) a year by end 2009 and will complete a naphtha cracker complex by September next year.
“We will complete expansion from 12 million tons to 15 million tons by December 2009,” IOC Director—Refineries B N Bankapur said.
The company is investing Rs806 crore in expanding the refining capacity that will also make the unit capable of producing Euro-III and Euro IV petrol and diesel.
Last year, the company had invested Rs4,165 crore in doubling the Panipat refinery capacity to 12 million tons.
Bankapur said that the naphtha cracker that will use the naphtha stream from the expanded refinery would be completed by September 2009.
“Both the expansion and naphtha cracker complex are to come together,” he added indicating that the commissioning of the plant will be synchronised with the expansion.
The complex will help the company produce Paraxylene and PTA that are used in making Polyester Staple Fiber and Polyester Filament Yarn and other resins.