Indian Oil Corporation is planning to award
the contracts for the naphtha cracker-cum-polymer project at Panipat by end-May
2006.
The proposed project, divided in two
packages, has received only two bids (names unavailable.) The total bid value
for the petrochemicals project is approximately Rs.11,900 crore. IOC had
previously estimated the project cost at Rs.6,300 crore.
The scheduled date of commissioning is
postponed by at least 14 months to March-April 2009 as the main bidders have
asked for a minimum of 35 months for project completion.
The project will have a capacity to
manufacture 8 lakh tpa of ethylene, 5.75 lakh tpa of propylene, 3.5 lakh tpa
linear low density poly ethylene, 3 lakh tonne of high density poly-ethylene,
2x3 lakh tonne of poly propylene and 2.5 lakh tonne of mono-ethylene glycol.
Also See:
IOC,
HSIDC ink MoU for Panipat petrochemical complex (15-Apr-06)
Related Links:
Project
profile