Prime Minister Narendra Modi virtually inaugurated Indian Oil Corporation (IOC’s) new acrylics and oxo-alcohol complex on the Gujarat Refinery in Vadodara.
Set up with an funding of Rs. 5,894-cr, the complex accommodates an acrylic acid unit, butyl acrylate unit, n-butanol unit, and a made over hydrogen generation unit.
“This modern-day plant transforms refinery byproduct propylene into high-cost petrochemical products that were, until now, largely imported,” an IOC press release stated.
The end products – acrylic acid, butyl acrylate, and oxo-alcohols – are CIRCULAR ECONOMY broadly used in paints, plastics, coatings, adhesives, textiles, glues, and range of a household and industrial programs.
“Their indigenous manufacturing will considerably decrease imports, save valuable foreign exchange, empower MSMEs, aid downstream production, and improve India’s competitiveness in the global petrochemical sector,” IOC stated.
