IPCL to invest Rs 350 crore to expand ethylene, gas cracker capacity

04-Dec-06

Indian Petrochemicals Corporation (IPCL) plans to invest Rs 350 crore to expand its petrochemical capacity, as follows:. * Ethylene capacity in the Baroda cracker to increase by 12,000 tons * Poly-butadiene rubber capacity to increase by 6,000 tpa * Installation of a fourth spinning machine in its acrylic fibre unit at Baroda, to raise capacity by 6,000 tons * Expansion of gas cracker capacity at Gandhar. The fresh expansion plans come after IPCL completed various projects to enhance capital productivity. The new projects will be completed within the next year. IPCL in 2005-06 has completed four years of operations under the management of Reliance, marked by introduction of initiatives to increase capacity utilisation, improve integration, reduce operating costs and improve financial management. In 2005-06, the turnover of the company crossed the US$2 bln mark for the first time. The net profit of IPCL crossed the Rs 1,000-crore mark for the first time since inception - a growth of 305% in just over four and a half years.