Indian Oil's focus on import substitution
New Delhi   07-Jan-2014

IndianOil is focusing on value addition through the production of import substitution. This was disclosed by Raj Kumar Ghosh, Director [Refineries], Indian Oil, while addressing senior officials of the company in Delhi. India’s first Styrene Butadiene Rubber Plant has been set up at Panipat, Haryana under the umbrella of Indian Synthetic Rubber Ltd - a joint Venture company of IOCL, TSRC and Marubeni for production of synthetic rubber.In India synthetic rubber consumption has increased due to the rapid industrialization. The year 2013 also saw the commissioning of Butadiene Extraction Unit at Panipat Naphtha Cracker Complex. Butadiene will be used as the feedstock for SBR production thus ensuring expansion in the entire value chain.