By IANS
New Delhi : State-run Indian Oil Corp (IndianOil) is setting up a paraxylene plant at its Haldia refinery as part of its plans to make the region a petrochemicals hub, the company said Monday.
A memorandum of understanding has been inked with the West Bengal government to explore the possibility of a petroleum, chemical and petrochemicals investment region at Haldia, a company statement said Monday.
IndianOil is already setting up projects worth Rs.500 billion ($12 billion).
The projects include a refinery-cum-petrochemicals complex at Paradip, a naphtha cracker with polymer units at the Panipat refinery, capacity augmentations at the Haldia and Panipat refineries and quality improvement projects in all facilities.
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