The board of Indian Oil (IndianOil) has given green light to build an integrated para-xylene (PX) and purified terephthalic acid (PTA) complex project at Paradip, Odisha, with an investment of INR138.05bn ($1.8bn).

The PX-PTA complex, which is planned to be integrated with IndianOil’s Paradip Refinery, is scheduled for completion by early 2024.

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IndianOil chairman SM Vaidya said: “This plant, along with the upcoming MEG (Mono-Ethylene Glycol) plant of 357-KTA (kilo tonnes per annum) capacity at Paradip, would be a ready source of feedstock for IndianOil’s upcoming 300-KTA textile yarn manufacturing project at Bhadrak in Odisha, and can similarly facilitate other textile and polyester projects in the region.

“We are sure that these investments, along with investments in other downstream projects, will boost entrepreneurship not only in Odisha but in the entire Eastern India that would contribute to the ‘Atmanirbhar Bharat’ and ‘Make in India’ vision of our nation.”

The new integrated complex will have a PX and PTA production capacities of 800,000 tonnes per annum and 1,200,000 tonnes per annum, respectively.

IndianOil expects the PX-PTA project to create approximately five million man-days of employment during the three-year construction phase.

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The PX will be the feedstock for the production of PTA, which is the raw material for the production of polyester.

IndianOil is currently implementing mono-ethylene glycol (MEG) production facility at Paradip Refinery. It is planned to be commissioned by the end of next year.

In a press statement, IndianOil said: “With the commissioning of both PTA and MEG projects, the Petrochemical Intensity Index of Paradip Refinery will increase to 14.7 from the present level of 4.5.”

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New integrated PX-PTA complex planned to be built at Paradip Refinery in India. (Credit: SatyaPrem from Pixabay)