State-owned Indian Oil Corp (IOC) on Wednesday said it has commissioned a propylene recovery unit at its Mathura Refinery. Propylene - also known as propene - is one of the major building blocks of the petrochemical industry.
It is used to manufacture a wide-range of products - from automobile headlights, disk brake pads and bumpers to carpets, CDs, clear film food wrap, eyeglasses and moulded plastic goods such as buckets and food containers.
"Sanjiv Singh, Director (Refineries), IOC inaugurated the new propylene recovery unit which is designed to process cracked LPG feed to produce 165,000 tons per annum of 99.7 percent pure, petrochemical-grade propylene product," the company said in a statement here.
IOC, the second largest petrochemical firm in the country, is investing Rs 30,000 crore in increase its presence in the petrochemical business.
"These projects will utilize product streams from the existing refineries of IOC, thereby achieving better exploitation of the hydrocarbon value chain," the statement said.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
