MOSCOW (MRC) -- Indian Oil Corporation Ltd (IOC), the nation''s biggest oil firm, last Thursday opened a new centre at Paradip in Odisha for doing research on applications and products that can be developed from polymers such as personal protective suits and face masks, reported Outlook India.
The Production Application and Development Centre (PADC) has been set up adjacent to the firm''s giant oil refinery and petrochemical complex at Paradip, an official statement said.
Set up an investment of Rs 43 crore, the centre is equipped with 50 latest sophisticated polymer testing and processing equipment to cater to the needs of customers and new investors, it said in a statement.
PADC will act as an incubation centre for new entrepreneur development in and around Odisha in the field of plastics, it said.
"The centre will render assistance to customers and investors in product and application development for polymer finished products such as molded furniture, houseware, woven sacks for packaging cement, fertiliser, healthcare applications like baby diaper, personal protective suit, mask etc," the statement said.
The centre will carry out testing and developmental activities for investors of Paradeep Plastic Park and other clusters like Balasore and Khurda.
It will impart requisite product and process training to the prospective and budding investors including hand holding activities for plant set-up, selection of machinery and material.
"PADC will provide quality assurance, complaint handling, customer support, benchmarking studies, new and niche grade development and application development activities," it said.
The centre was inaugurated by Oil Minister Dharmendra Pradhan and Odisha Chief Minister Naveen Patnaik through a video conference.
Speaking on the occasion, Pradhan said the state holds immense potential in petrochemicals, steel, mines and coal, aluminium, tourism, textile, agri entrepreneurship.
"The world class facility inaugurated today will ensure availability of raw material, facilitate entrepreneurs in the petrochemicals sector and provide training to the prospective and budding investors," he said.
Patnaik said the centre will not only perform a pivotal role in developing new material and innovative applications, but also help investors to set up manufacturing units in plastic and polymers sectors.
IOC has been acting as an anchor in development of plastics and polymer industry in the state, and the new Centre will further support the innovation and entrepreneurship in the area, he added.
As MRC informed earlier, LyondellBasell, the world’s largest licensor of polyolefin technologies, has recently announced that Indian Oil Corporation Ltd. (IOCL) will use the LyondellBasell Spheripol technology for a new facility. The process technology will be used for a 450 KTA polypropylene (PP) plant to be built in Panipat, Haryana State, India.
According to MRC's ScanPlast report, Russia's estimated polyethylene (PE) consumption totalled 721,290 tonnes in the first four month of 2020, up by 4% year on year. Low density polyethylene (LDPE) and linear low density polyethylene (LLDPE) shipments grew partially because of the increased capacity utilisation at ZapSibNeftekhim. At the same time, PP shipments to the Russian market totalled 347,440 tonnes in January-April 2020 (calculated by the formula production minus export plus import). Supply exclusively of PP random copolymer increased.
Indian Oil Corporation Limited, or IndianOil, is an Indian state-owned oil and gas corporation with its headquarters in New Delhi, India.
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