IOCL to implement Petrochemical and Lube Integration Project

Indian Oil Corporation (IOCL) in a regulatory filing to BSE has informed that the Board of lndianOil has accorded approval for implementation of Petrochemical and Lube Integration Project at lndianOil's Gujarat Refinery at an estimated cost of ₹ 17,825 crore.

The regulatory filing further stated, "the project will not only increase the capacity of Gujarat Refinery from 13.7 MMTPA to 18 MMTPA, but would also result in integration to petrochemicals with production of 500 KTPA Polypropylene. In addition, production of Lube Oil Base Stock (LOBS) of 235 KTA is also proposed. The project would be a building block for production of niche chemicals in future with a potential to increase petrochemical and speciality products integration index on incremental crude oil throughput which would enhance the Corporate margins of lndianOil".