News Release Details

IndianOil Board accords Stage-I approval for setting up the first-ever Styrene Project in India with a CAPEX of Rs 4495 crore
New Delhi 30-Jun-2021

Today, the IndianOil Board has accorded "Stage - 1" approval for implementation of India's first-ever "Styrene Monomer Project" with a capacity of 387 thousand metric tonnes per annum (TMTPA) at an estimated cost of Rs 4,495 crore, at IndianOil's Panipat Refinery & Petrochemical Complex. This project will strengthen India's focus to harness opportunities in the petrochemical sector and sync with the Government of India's "Atmanirbhar Bharat" mission.

Earlier in February 2021, the IndianOil Board approved the Panipat Refinery Expansion Project to enhance its capacity from the existing 15 MMTPA to 25 MMTPA with a CAPEX of Rs 32946 Crore. As part of the Expansion Project, a new high severity Fluidized Catalytic Cracking Unit (FCCU) of 2.5 MMTPA capacity, based on IndianOil's flagship INDMAX technology, would be set up to maximize LPG production and manufacture basic petrochemical building blocks - Propylene and Ethylene. There is a Propylene potential of around 514 KTA of in the project, which would be utilized for the production of Polypropylene (PP) through a new PP unit. The Styrene Project aims to utilize the Ethylene potential from the INDMAX Unit alongside the Benzene that is already being produced at the Panipat Complex.

Styrene is used to produce Poly Styrene, Paints & Coatings / Acrylic, Unsaturated Polyester Resins, and Elastomers such as Acrylonitrile Butadiene Styrene (ABS), Styrene-Butadiene Rubber (SBR) etc. Presently India's Styrene consumption is around 900 TMTPA, and the demand is expected to increase consistently over the next 15-20 years. However, there is no domestic Styrene capacity in India, and the entire demand is met through imports from Singapore, Middle East and Southeast Asia, causing significant inconvenience to the domestic Styrene downstream industry. The proposed Styrene Project will address this issue to a great extent and reduce nation's import dependence substantially. Thus, considerable forex savings of about Rs. 3650 crore (USD 500 million) per annum is likely to be generated.

The project would be commissioned by 2026-27. Availability of Styrene domestically is expected to accelerate the growth of downstream industry and create employment opportunities.

K. John Prasad
Chief General Manager
Corporate Communications
Indian Oil Corporation Ltd.

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The term User shall refer to the user who is browsing the site. The term IndianOil shall refer to Indian Oil Corporation Limited. The term Site refers to www.iocl.com owned and monitored by IndianOil.
By using the Site, you agree to follow and be bound by the following terms and conditions concerning your use of the Site. IndianOil may revise the Terms of Use at any time without notice to you. Areas of the Site may have different terms of use posted. If there is a conflict between the Terms of Use and terms of use posted for a specific area of the Site, the latter shall have precedence with respect to your use of that area of the Site.
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All content present on this site is the exclusive property of IndianOil. The software, text, images, graphics, video and audio used on this site belong to IndianOil. No material from this site may be copied, modified, reproduced, republished, uploaded, transmitted, posted or distributed in any form without prior written permission from IndianOil. All rights not expressly granted herein are reserved. Unauthorized use of the materials appearing on this site may violate copyright, trademark and other applicable laws, and could result in criminal or civil penalties. IndianOil is a registered trademark of Indian Oil Corporation Ltd. This trademark may not be used in any manner without prior written consent from IndianOil.
IndianOil does not make any warranties, express or implied, including, without limitation, those of merchantability and fitness for a particular purpose, with respect to any information, data, statements or products made available on the Site.
The Site, and all content, materials, information, software, products and services provided on the Site, are provided on an "as is" and "as available" basis. IndianOil expressly disclaims all warranties of any kind, whether express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose and non-infringement.
IndianOil shall have no responsibility for any damage to User's computer system or loss of data that results from the download of any content, materials, information from the Site.
IndianOil may change or discontinue any aspect of its website at any time, including, its content or features. IndianOil reserves the right to change the terms and conditions applicable to use of the Site. Such changes shall be effective immediately upon notice, which shall be placed on the Site.
In no event will IndianOil be liable for damages of any kind, including without limitation, direct, incidental or consequential damages (including, but not limited to, damages for lost profits, business interruption and loss of programs or information) arising out of the use of or inability to use IndianOil's website, or any information provided on the website, or in the Products any claim attributable to errors, omissions or other inaccuracies in the Product or interpretations thereof. Some jurisdictions do not allow the limitation or exclusion of liability. Accordingly, some of the above limitations may not apply to the User.
User agrees to indemnify, defend and hold IndianOil harmless from and against all losses, expenses, damages and costs, including reasonable attorneys' fees, arising out of or relating to any misuse by the User of the content and services provided on the Site.
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