State-run Indian Oil Corp. Ltd.'s project to double the capacity of its Panipat refinery to 240,000 bpd has been delayed. IOC's plan to commission a US$1.1 billion petrochemicals unit to produce paraxylene and purified terephthalic acid (PTA) at Panipat is also lagging behind schedule.
Though the 600,000 tpa PTA plant seems to be mechanically complete, certain problems are being experienced with regards to the paraxylene plant- a feedstock for the PTA plant. IOC may import 50,000 tons of paraxylen to start the PTA plant by April.
IOC aims to become one of India's top petrochemical firms, and will use surplus naphtha produced by a planned increase in refining capacity of 2.54 million bpd.
06-Jan-06 
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