The Indian Oil Board has given its go-ahead for implementation of an Integrated Para-Xylene (PX) and Purified Terephthalic Acid (PTA) complex project at Paradip at an estimated investment of Rs 13,805 crore at the Board meeting held here.
The PX-PTA complex shall be integrated with IndianOil’s Paradip Refinery, which is operational since 2015.
Chairman, IndianOil, 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 the Indian Oil’s upcoming 300-KTA textile yarn manufacturing project at Bhadrak 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 PX/PTA project would be completed by early 2024. The petrochemicals complex will have a PX production capacity of 800,000 tonnes per annum, which would be the feedstock for production of PTA. The production capacity of PTA would be 1,200,000 tonnes per annum. IndianOil’s MEG production facility is already under implementation at Paradip and will become operational towards the end of 2021.
The project is estimated to generate approximately five million man-days of employment over the three-year construction period with direct and indirect employment opportunities for more than 2,000 technically skilled, semi-skilled and unskilled manpower in the various areas of operations, maintenance of units and logistics for handling the product value chain.