Petroleum Minister Shri Puri launches MRPL’s New Product
MRPL’s addition of 40 TMT per year will help bridge this gap, contributing to significant foreign exchange savings of approximately $3 million annually.
Mangalore, January 11, 2025 – The Hon’ble Minister of Petroleum and Natural Gas, Shri Hardeep Singh Puri Ji, launched MRPL's product, Toluene, during his visit to the refinery today. Shri Puri also engaged in discussions with MRPL's senior officials.
With an annual production capacity of 40 TMT, MRPL’s Toluene facility exemplifies India’s progress toward self-reliance and global competitiveness in the petrochemical sector.
Join PSU Connect on WhatsApp now for quick updates! Whatsapp Channel
Toluene, a versatile aromatic hydrocarbon, plays a vital role in industries such as pharmaceuticals, chemicals, paints, and defense. India’s annual demand for Toluene stands at about 650 TMT, but domestic production currently is about 160 TMT. MRPL’s addition of 40 TMT per year will help bridge this gap, contributing to significant foreign exchange savings of approximately $3 million annually.
Read Also : Bank of Baroda Shares Slip Amid Margin Pressure and Slower Deposit Growth
This initiative represents a major stride in reducing India’s dependency on imports while bolstering industrial and economic growth, in line with the vision of Atmanirbhar Bharat.
Read Also : RBI imposes monetary penalty on HDFC Bank Ltd