The Centre´s green panel has deferred its decision on granting environment clearance to state-run Indian Oil Corporation Ltd´s (IOCL) Rs.593 crore Styrene and Ethylene project at Panipat, in Haryana, for want of more information.
IOCL has proposed setting up of styrene and ethylene recovery units at the existing Panipat Naphtha Cracker Complex (PNCC), at a cost of Rs.593 crore.
Presently, there is no styrene producer in the country and the entire quantity is imported by Indian Synthetic Rubber Limited (ISRL). Since IOCL is a 50 per cent equity holder of ISRL, the proposed project will ensure steady supply of styrene to the Styrene Butadiene Rubber unit of ISRL. The appraisal committee had examined IOCL´s proposal in the recent meeting.
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