The state-owned Indian Oil Corporation (IOC) will invest Rs 3,681 crore to build the country's first large-scale maleic anhydride factory at its Panipat refinery and petroleum complex in Haryana to produce enhanced chemical products.
The project will have a maleic anhydride capacity of 1,20,000 tonnes per year (mAh). It's used in the production of specialty products like polyester resins and agricultural chemicals.
Aside from that, this plant will produce 16,000 tonnes of the value-added chemical Tetra Hydro Furan (THF), which will help the pharmaceutical industry.
Important Takeaways
About IOC
IOC: Indian Oil Corporation
Headquarters: Mumbai
Founded: 30 June 1959
Chairperson: Shrikant Madhav Vaidya
Oil discovered for the first time in India: Digboi
