The Gujarat state and the Indian Oil Corporation Ltd (IndianOil) recently signed a memorandum of understanding for setting up a petrochemical and lube integration (LuPech) project and acrylics/oxo alcohol project along with other infrastructure projects at the latter’s refinery at Vadodara. The LuPech project will produce import substitutes like lube oil base stock and polypropylene.
Gujarat chief minister Vijaybhai Rupani and union minister of petroleum and natural gas and steel Dharmendra Pradhan presided over the MoU signing ceremony for investment promotion between the two sides.
The acrylics/oxo alcohol project at Dumad and Gujarat Refinery will manufacture value-added butyl acrylate, a key ingredient for paints, coatings, adhesives, textile chemicals, plasticizer industry and other similar products, a press release from the corporation said.
These projects will strengthen the corporation's readiness for venturing into petrochemical projects like PVC, styrene, acrylonitrile, poly-methyl methacrylate and ethylene oxide in future. The petrochemicals & specialty products (Gr-II/III LOBS) integration index based on additional crude oil added under this project is estimated to be 20.7 per cent.
Polypropylene, butyl acrylate, acrylonitrile, ethylene oxide are raw materials used in the textile industry.
An MoU was also signed for infrastructure facilities at Dumad for Koyali-Ahmednagar-Solapur Pipeline (KAhSPL) and tank truck loading facility for linear alkyl benzene (LAB)—a feed-stock for detergent industries.
The other infrastructure projects envisaged are a new flare system at Gujarat Refinery and a hydrogen dispensing facility for fuel cell electric vehicles (FCEV). IndianOil's Gujarat Refinery will implement India's first hydrogen dispensing facility as a clean fuel initiative. This aims to fuel hydrogen buses plying between Vadodara and Kevadia /Sabarmati Ashram.
During the construction stage, around 125 million person-hours of employment will be generated. The total investment outlook for these projects in different execution stages is approximately ₹24,000 crore.
Fibre2Fashion News Desk (DS)