Kolkata: After Panipat and Paradip, IndianOil is planning the third petrochemicals complex, albeit a smaller one, at Haldia. The company is considering establishing a parazylene plant in the existing refinery complex beginning 2012. Parazylene is a petrochemical product and is used as a feedstock in the neighbouring MCC PTA India Corporation Pvt Ltd a subsidiary of Tokyo-based Mitsubishi Chemical Corporation for producing purified terephthalic acid (PTA). The parazylene plant coupled with the virtually finalised plan to establish a Rs 350-crore delayed coker unit in the refinery may, however, reduce the availability of naphtha for Haldia Petrochemicals Ltd (HPL). The Union Shipping Ministry has already cleared the allotment of land currently under the possession of the closed Hindustan Fertiliser Corporation (HFC) facility at Haldia and the physical handover is expected to take place shortly.
Haldia Refinery currently processes 6 million tonne (mt) crude. The capacity will go up to 7.5 mt once the on-going Rs 1,600-crore hydrocracker project is implemented next year. Meanwhile, IOC is hopping a boost to its bottomline beginning December 2007 with the completion of the single point mooring (SPM) facility at Paradip and the connecting crude pipeline to Haldia. The total project cost is estimated to be Rs 1,178 crore. While the pipeline between Paradip and Haldia is already laid, work is still pending on the sub-sea pipeline connecting the SPM.
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