IOCL nods Rs 3,861 cr specialty chemicals plant for Panipat refinery
OIL & GAS

IOCL nods Rs 3,861 cr specialty chemicals plant for Panipat refinery

Indian Oil's Panipat Refinery in Haryana has approved a Rs 3,681 crore plan to build a mega-scale maleic anhydride unit for manufacturing high-volatility speciality chemicals.

On Monday IOCL chairman S M Vaidya told the media that the majority of these high-demand chemicals are imported. The upcoming plant will reduce import dependency and save about $150 million in foreign exchange per year, strengthening Atma Nirbhar Bharat's mission.

Maleic anhydride (MAH) is a high-value speciality chemical that is used to make polyester resins and surface coating plasticisers, as well as agrochemicals and lubricant additives.

Vaidya informed that given the high potential of petrochemicals in India, petrochemicals integration is a cornerstone of future growth strategy. After the expansion plan is implemented, Indian Oil's basket of niche products will be consolidated, and the lube and petrochemical integrity index of the Panipat refinery will increase to more than 15%.

From the date of Stage-l investment approval, the proposed unit is expected to be completed in 54 months. The plant will have a capacity of 120 kilo tonnes per annum (kta) of maleic anhydride, according to a statement released by the company on Monday.

This plant will also produce tetrahydrofuran (THF), a high-value chemical that will help the pharmaceutical industry grow faster. THF is used in a variety of adhesives and vinyl films.

The plant will produce 20 kta of 1,4-butanediol, which is used in polyurethanes, polybutylene terephthalates, engineering grade plastic, and biodegradable fibres.

Indian Oil's business interests span the entire hydrocarbon value chain, including refining, pipeline transportation, petroleum product marketing, and crude oil, natural gas, and petrochemical exploration and production. Indian Oil has dabbled in alternative energy and downstream globalisation.

Image Source

Also read: IOCL to set up hydrogen manufacturing facilities in three states

Indian Oil's Panipat Refinery in Haryana has approved a Rs 3,681 crore plan to build a mega-scale maleic anhydride unit for manufacturing high-volatility speciality chemicals. On Monday IOCL chairman S M Vaidya told the media that the majority of these high-demand chemicals are imported. The upcoming plant will reduce import dependency and save about $150 million in foreign exchange per year, strengthening Atma Nirbhar Bharat's mission. Maleic anhydride (MAH) is a high-value speciality chemical that is used to make polyester resins and surface coating plasticisers, as well as agrochemicals and lubricant additives. Vaidya informed that given the high potential of petrochemicals in India, petrochemicals integration is a cornerstone of future growth strategy. After the expansion plan is implemented, Indian Oil's basket of niche products will be consolidated, and the lube and petrochemical integrity index of the Panipat refinery will increase to more than 15%. From the date of Stage-l investment approval, the proposed unit is expected to be completed in 54 months. The plant will have a capacity of 120 kilo tonnes per annum (kta) of maleic anhydride, according to a statement released by the company on Monday. This plant will also produce tetrahydrofuran (THF), a high-value chemical that will help the pharmaceutical industry grow faster. THF is used in a variety of adhesives and vinyl films. The plant will produce 20 kta of 1,4-butanediol, which is used in polyurethanes, polybutylene terephthalates, engineering grade plastic, and biodegradable fibres. Indian Oil's business interests span the entire hydrocarbon value chain, including refining, pipeline transportation, petroleum product marketing, and crude oil, natural gas, and petrochemical exploration and production. Indian Oil has dabbled in alternative energy and downstream globalisation. Image Source Also read: IOCL to set up hydrogen manufacturing facilities in three states

Next Story
Infrastructure Transport

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

Next Story
Resources

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Next Story
Real Estate

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?