IOCL’s petrochemical complex at Paradip to face delays on to financial constraints

27-Jan-11

Indian Oil Corporation Ltd (IOCL)’s proposed petrochemical complex at its 15 mln tpa refinery at Paradip is set to be delayed due to financial constraints. Work on the petrochemical complex is expected to begin two years after the commissioning of the refinery. IOCL is reviewing the situation to expedite work. The Paradip refinery will be commissioned in two phases. Production at Phase-I is expected to start by March 2012 while Phase 2 production is scheduled for November 2012. The production from the refinery will cater to the domestic market rather than exports as planned earlier.