PSU NEWS
IndianOil board gives go-ahead for Rs. 13805 crore integrated PX-PTA complex
New Delhi: The IndianOil Board has given its go-ahead for the implementation of an Integrated Para-Xylene (PX) and Purified Terephthalic Acid (PTA) complex project at Paradip, Odisha, at an estimated investment of Rs. 13,805 crore at the Board meeting held here yesterday . The PX/PTA project will be completed by early 2024.The PX-PTA complex shall be integrated with IndianOil’s Paradip Refinery.
Speaking on the occasion, SM Vaidya, Chairman, IndianOil, said that these investments, along with investments in other downstream projects, will boost entrepreneurship not only in Odisha but in the entire Eastern India that would contribute to the ‘Atmanirbhar Bharat’ and ‘Make in India’ vision of our nation.”
PTA is a major raw material for manufacture of polyester fibre/yarn, PET bottles and polyester film used in packaging applications. PTA and MEG combined are the main feedstocks for polyester manufacture. The Petroleum, Chemical and Petrochemical Investment Region (PCPIR) of Paradip, Odisha, will have both these feedstocks of world-class quality available under one roof.
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