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The upcoming refinery of state-run Indian Oil Corporation (IOC) at Paradip would be a major producer of feedstock for the downstream petrochemicals industry, a top official of the company said.
´IOC will branch out into manufacturing of petrochemicals feedstock and the Paradip plant will be a major producer,´the official said.
The 15-million tonne Paradip refinery will be commissioned very shortly, he said. According to the official, the plant will house a Rs.3,150-crore polypropylene plant expected to go on stream by 2017. The plant would help in the development of downstream units by providing inputs, as a result of which the PSU would gain from value addition. The official said that a downstream expansion to petrochemicals was also planned.