Page 130 - CW E-Magazine (31-12-2024)

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INVESTMENT MONITOR

IOC to invest in Bihar refi nery expansion and PP projects

Indian Oil Corporation (IOC), the
nation’s leading refi ning company, has
committed investments of over Rs.
21,000-in signifi cant energy projects in
Bihar. These investments include the
expansion of the Barauni refi nery and
the establishment of a city gas distribu-
tion (CGD) network, boosting the state’s
industrial and energy sectors. This was
among a slew of major announcements
made at the ‘Bihar Business Connect
2024 – A Global Investors Summit’ held
in Patna on December 19.

PP plant at Barauni establishments. These initiatives will textile park of Bhadrak district. The
IOC is upgrading the Barauni refi - promote clean energy usage, reduce project, consisting of 900 tonnes per day
nery from its current capacity of 6-mtpa reliance on traditional fuels, and foster continuous polymerisation plant with
to 9-mtpa at a cost of Rs. 16,000-crore sustainable urban growth in the state. downstream units of draw textured yarn,
by the end of 2025. Alongside this ex- fully drawn yarn and polyester chip and
pansion, the company is setting up a Yarn project in Odisha other associated facilities, will come up
200-ktpa polypropylene (PP) plant. In another development, IOC has at total a cost of around Rs. 4,382-crore
approved its investment in a proposed to be shared between the partners.
IOC is also investing Rs. yarn project being set up in Odisha in
5,600-crore in establishing a city gas a joint venture with a leading chemical Last year, the state government had
distribution network across 27 cities company MCPI Pvt. Ltd. approved IOC’s plans to establish the
in Bihar. This network aims to supply polyester products manufacturing unit
compressed natural gas (CNG) for vehi- IOC’s Board of Directors has ap- in the textile park. The project would
cles and piped natural gas (PNG) for proved an investment of Rs. 657-crore generate employment for around 4,300
households, industries, and commercial for the yarn project in Bhandaripokhari people.
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13/23
130 Chemical Weekly December 31, 2024

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