Indian Oil Corporation’s Board has given its nod to set up the country’s first mega-scale Maleic Anhydride Plant to manufacture value-added chemical products at its Panipat Refinery and Petroleum Complex (PRPC). The project — with a capex of Rs. 36.81 billion will be commissioned in 54 months from stage 1 investment approval.
“The project is proposed to have a capacity of 120 KTA (kilo tonnes per annum) of Maleic Anhydride (MAH) that is used to make speciality products like polyester resins and surface coatings plasticisers, agrochemicals and lubricant additives,” the release said.
Reduce import dependence
It added that the unit will also manufacture 20 KTA of 1,4-Butanediol (BDO) that finds applications in poly urethanes (PU) and poly butylene terephthalates (PBT) — an engineering-grade plastic and biodegradable fibre.
16 KTA of another value-added chemical — tetra hydro furan (THF) — will also be produced from this plant to accelerate the growth of the pharmaceutical industry. THF is also widely used in adhesives and vinyl films.
“Presently, these high demand chemicals are mostly imported by India. The upcoming MAH Plant will reduce import dependence and save foreign exchange of about $150 million per year, thus strengthening the mission of Aatmanirbhar Bharat. Moreover, petrochemicals integration is the cornerstone of our future growth strategy, given the high potential of petrochemicals in India. This project will consolidate IndianOil’s basket of niche products and increase the lube and petrochemical integrity index of Panipat Refinery to more than 15 per cent after the refinery expansion plan is implemented,” said S M Vaidya, Chairman, Indian Oil.
Complexity index
As per the release, the ongoing expansion of the Panipat Refinery (envisaging capacity expansion of the refinery from 15 MMTPA to 25 MMTPA) and the implementation of petrochemical and other specialised units will bring the refinery’s complexity index to over 15.
“The expansion blueprint includes units like Indmax for deriving maximum value from the petrochemical molecule, polypropylene unit, and a lube complex for producing lube oil base stock apart from other refinery units. The existing olefinic and aromatic complex shall also be expanded along with the implementation of grass-root speciality petrochemical units like the Styrene unit and the just-approved Maleic Anhydride Unit,” the release added.
