HYDERABAD, NOV. 27:
A manufacturing facility that is expected to give a boost to the domestic rubber industry, especially the automotive sector, is ready for commissioning in Panipat, Haryana.
The Union Minister for Petroleum and Natural Gas, M. Veerappa Moily, will commission it on Friday.
The country’s first e-SBR (styrene butadiene rubber) unit has been set up by Indian Synthetic Rubber Ltd (ISRL), a joint venture promoted by Indian Oil, TSRC Corporation, Taiwan, and Marubeni Corporation, Japan. The estimated cost of the project is Rs 950 crore.
The 120-kilo tonne a year capacity plant is located contiguous to the naphtha cracker plant of the Indian Oil at Panipat refinery. Plans are to enhance the capacity to 220 kt a year by 2015.
At present, the entire SBR requirement for automotive tyres is met through imports. Once operational, the country can save substantial foreign exchange.
The unit is also expected to optimise the logistics and inventory carrying capacity of the domestic industries and consumers.
ISRL’s unit provides several synergies for the Indian Oil plant and helps reduce hydrogen consumption, and consequently, reduce greenhouse gas emissions, a spokesperson of Indian Oil toldBusiness Line.
The project has been funded through debt raised from Japan Bank for International Cooperation and Mizuho Corporation Bank Ltd.
For Indian Oil, it will be the first step towards realisation of elastomer complex, based on various feedstocks available at the naphtha cracker complex.
The technology for the manufacturing unit is being provided by TSRC Corporation.
The Taiwanese company will also provide their brand ‘TAIPOL’ for the ISRL product for research and development support.
Source: The Hindu
