News Release Details
Three years of petrochemical business
New Delhi 07-Sep-2007
The first tank truck loaded with Linear Alkyl Benzene was flagged off on 2nd September 2004 at Gujarat refinery for Hindustan Unilever Ltd, which was the first significant step for IndianOil into petrochemical business. Since then, many milestones have been achieved and the latest leap forward is the dispatch of the first load of Purified Terephthalic Acid from Panipat to Indo Rama, Nagpur on the 7th September 2006. It is a coincidence that IndianOil's forays into the petrochemical business achieve fruition during the month of September, when IndianOil Day is also celebrated. It has been an eventful and rewarding three year journey; a journey in which LAB business has completed three years and PTA business one year. IndianOil has tied up with major buyers like HUL, Fena, Ghari, Indo Rama, SAPL, Jindal, etc. on a long-term basis for the petrochemical business. It is a matter of pride that our Corporation has managed to make its presence felt in international markets in the face of stiff competition. Petrochemicals are being exported to Indonesia, Thailand, Vietnam, Turkey, Oman and Norway on a regular and sustained basis. Annual sales turnover of our petrochemicals business is in excess of Rs. 2100 crore - bigger than many leading companies in the Financial Express survey of top 500 companies in India. On a standalone basis, petrochemical business (Mention here IndianOil is it not) by sales is ranked 100th position as per the survey conducted by the Financial Express.
New Delhi 07-Sep-2007
The first tank truck loaded with Linear Alkyl Benzene was flagged off on 2nd September 2004 at Gujarat refinery for Hindustan Unilever Ltd, which was the first significant step for IndianOil into petrochemical business. Since then, many milestones have been achieved and the latest leap forward is the dispatch of the first load of Purified Terephthalic Acid from Panipat to Indo Rama, Nagpur on the 7th September 2006. It is a coincidence that IndianOil's forays into the petrochemical business achieve fruition during the month of September, when IndianOil Day is also celebrated. It has been an eventful and rewarding three year journey; a journey in which LAB business has completed three years and PTA business one year. IndianOil has tied up with major buyers like HUL, Fena, Ghari, Indo Rama, SAPL, Jindal, etc. on a long-term basis for the petrochemical business. It is a matter of pride that our Corporation has managed to make its presence felt in international markets in the face of stiff competition. Petrochemicals are being exported to Indonesia, Thailand, Vietnam, Turkey, Oman and Norway on a regular and sustained basis. Annual sales turnover of our petrochemicals business is in excess of Rs. 2100 crore - bigger than many leading companies in the Financial Express survey of top 500 companies in India. On a standalone basis, petrochemical business (Mention here IndianOil is it not) by sales is ranked 100th position as per the survey conducted by the Financial Express.