Panipat to have India's maiden synthetic rubber plant | punjab | Hindustan Times
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Panipat to have India's maiden synthetic rubber plant

punjab Updated: Nov 28, 2013 18:23 IST
HT Correspondent
HT Correspondent
Hindustan Times

The petrochemical hub here developed by the Indian Oil Corporation Limited (IOCL) is all set to have the country's first e-SBR (styrene butadiene rubber) unit.

The union minister for petroleum and natural gas, M Veerappa Moily, will commission the plant on Friday.

Chief minister Bhupinder Singh Hooda and officials of the partner firms from other countries would also be present on the occasion. The Rs 958-crore Indian Synthetic Rubber Lt (ISRL) project is a joint venture of the IOCL, TSRC Corporation, Taiwan, and Marubeni Corporation, Japan.

The official spokesman of the IOCL, N Shiva Kumar, told Hindustan Times that the manufacturing facility would give a boost to the domestic rubber industry, especially the automotive sector, in a big way. “The project will have far reaching impact on the Indian economy as the inland production of the material will help the country save sufficient foreign exchange,” he said.

Officials at the IOCL here said that presently, the entire SBR requirement for automotive tyres was met through imports.

The 120-kilo tonne (KT) a year capacity plant is located near the naphtha cracker plant of the IOCL refinery, located on the outskirts of the city.

It is planned to increase the capacity of the plant to 220 KT in next two years. The project has been funded through debt raised from Japan Bank for International Cooperation and Mizuho Corporation Bank Ltd.