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IOC BOARD GIVES NOD FOR 15 MT REFINERY COMPLEX IN ORISSA.
NEW DELHI, April 3 Asia Pulse - The Board of Indian Oil Corp (BSE:530965), the country's largest oil firm, has approved setting up of a 15 million tonnes refinery-cum-petrochemical complex at Paradip in Orissa.
The project, consisting of a 15 million tonnes per annum capacity refinery and facilities for production of front-end petrochemicals, including paraxylene, polypropylene and styrene, together with a product pipeline from the refinery to Ranchi was cleared by the IOC Board recently.
"Giving the go-ahead for the refinery-cum-petrochemicals complex, the IOC Board has sanctioned over Rs 11 billion (US$246.5 million) for the initial activities for the project, including technology selection, basic engineering design, site development activities, etc," a company press release said ...
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Source: HighBeam Research, IOC BOARD GIVES NOD FOR 15 MT REFINERY COMPLEX IN ORISSA.