The Indian Oil Corporation (IOCL) is planning to invest Rs 4,500 crore to set up a petrochemical facility in Haryana.
Indian Oil’s board has given Stage-1 approval for implementation of India's maiden styrene monomer project with a capacity of 3,87,000 tpa at the company’s refinery & petrochemical complex at Panipat. The project will be commissioned by 2026-27.
Styrene is used to produce polystyrene, paints and coatings/acrylic and unsaturated polyester resins.