New Delhi: The Indianol Board has approved the Crore RS 3,681 plan to establish an Indian Mega-first-scale anhydride unit to produce high-value special chemicals at the Panipat refinery in Haryana.
“These high levels of chemicals are mostly imported.
The upcoming factory will reduce the dependence of imports and save foreign exchange around $ 150 million per year, thus strengthening the Aatmanirbhar Bharat mission,” a company statement quoted M Chairm M say on Monday.
Maleic Anhydride (mAh) is used to make high-value special products such as polyester resin and plasticer surface, agrochemical and lubricating additives.
“Petrochemical integration is the basis of our future growth strategies, given the high potential petrochemicals in India.
This project will consolidate the Indianoil niche product basket and increase the Petrochemical Integrity Index of the Panpat refinery to more than 15% after the expansion plan is implemented,” the statement quoted Vaidya as an addition.
The proposed unit is expected to be completed in 54 months from the date of Stage-1 investment approval.
It will have the capacity to produce 120 kilo tons per year (KTA) anhydride maleat, the company said in a statement on Monday.
Other value chemistry added, Tetrahydrofuran, will also be produced from this factory to accelerate the growth of the pharmaceutical industry.
THF is also widely used in adhesives and vinyl films.
In addition, the factory will also produce 20 KTA 1.4-Sutanediol that find applications in the urethal poly, polulutlene of the Tereftalate, engineering class plastic and biodegradable fiber.