Oil refiner cum retailer Indian Oil Corporation Ltd (IOCL) aims to reach a refining capacity of 9-10 million ton (mt) in this fiscal at its 15 mt crude oil refinery at Paradeep. “We were aiming to achieve 100% capacity capacity utilisation at our Paradeep refinery this fiscal. But the refinery will take time to stabilise and reach its full rated capacity. In this fiscal, we aim to achieve a refining capacity of 9-10 mt,” said Sanjiv Singh, director (refineries), IOCL. IOCL has invested Rs 350 billion on the Paradeep refinery. The unit has commenced operations in February this year.
The Paradeep refinery is capable of processing 100% high sulphur, including 40% heavy crude oil of low cost. The refinery would churn out a wide gamut of petroleum products like petrol, diesel, kerosene, aviation turbine fuel, propylene, sulphur and petroleum coke. The refinery has unique INDMAX (Indane Maximization) technology with 4.17 million ton capacity capable of delivering up to 44% LPG. The Paradeep refinery product mix would consist of 37.5% high speed diesel, 25.3% motor spirits, 13.1% ATF, 5.2% propylene+LPG, 8.1% petroleum coke and 1.8% sulphur. The products would be predominantly consumed in the domestic market except few quantities of motor spirits which would be exported.
IOCL is also investing Rs 340 billion on the petrochemical complex, roughly the same amount it spent on the refinery. Though IOCL had conceptualised the oil refinery and petrochemical complex at the same time, the petrochemical complex was kept in abeyance due to recession. The entire petrochemical complex is slated to be commissioned by 2021. The first unit of this complex- the polypropylene unit is scheduled to be completed by December this year. The unit estimated to cost Rs 31.50 billion got the investment approval of IOCL board in March 2014.
The polypropylene unit would make use of Spheripol Technology from Basell, Italy. The unit will be capable of producing different grades of polypropylene but will commence with production of only homo grade initially. The major facilities envisaged under the project are coker LPG treater unit, ware house for polypropylene storage and other associated facilities like flare and cooling tower. Polymer units feel the polypropylene complex would be a huge boost to the local units that are currently dependent on raw material imports from Haldia and Surat. Davon Godchaux Womens JerseyShare This