(fibre2fashion.com) -- The India Oil Corporation (IOC) the biggest state-owned refining company in India has set up a 850,000 tons / year ethylene plant in Panipat in Punjab. The plant uses the latest Lummus Global's patented technology.
The plant which started in March has been built at a cost of Rs 144 billion. The raw material, naphtha will be sourced from its Koyali, Mathura and Panipat refineries.
According to IOC, the current utilization of the plant is 50 percent. By the first week of June 2010, IOC plans to activate the downstream derivatives production unit.
This will include 350,000 tons / year linear low density polyethylene, 300,000 tons / year high density polyethylene, 650,000 tons / year of polypropylene, in addition to a 600,000 tons / year of purified terephthalic acid (PTA) plant.