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Indian Oil to invest for oil and petrochemical projects

by ChemOrbis Editorial Team -
  • 13/04/2015 (11:07)
According to media reports, India’s state-run company Indian Oil Corporation is planning to invest INR450 billion ($7.21 billion) within three years for the construction of petrochemicals plants and an LNG terminal as well as laying pipelines and upgrading its refineries.

The company reported the petrochemicals, gas and pipeline businesses will be the target areas for their expansion plans. An official from IOC said that although the company expanded into the petrochemicals sector, the performance of their petrochemical segment has made them confident in pursuing an aggressive expansion in petrochemicals.

Meanwhile, Indian oil is currently building two petrochemical units for the production of propylene and MEG at Paradip, India.
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