IOC trying to squeeze in expansion of Haldia refinery despite land crunch

Indian Oil Corp. Ltd. has managed to secure only 82 acres of the extra 210 acres that it had sought to acquire. IOC had been eyeing the adjacent land leased to Hindustan Fertiliser Corp. But a government decision to revive the closed plants of HFC and Fertiliser Corp of India, has forced IOC to be content with just 82 acres that HFC has surrendered to the Kolkata Port Trust. The oil major is trying to fit the expansion of the Haldia refinery within the plant's 500 acre property, as it marches ahead with its refinery's expansion from 6 mln tpa to 7.5 mln pta. The facility would make paraxylene and propylene, for which a ready customer is the nearby plant of MCC PTA India Corp India Ltd, a unit of Japan's Mitsubishi Chemical Corp. The MCPI plant makes purified terephthalic acid (PTA).
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