IOCL to build Styrene unit in Panipat

IOCL has said that its board has sanctioned an initial approval to set up the country’s first styrene monomer project at an estimated cost of Rs 4,495 crore. The project, with a capacity of 3,87,000 mtpa will be located in the company’s Panipat refinery and petrochemical complex. Styrene is used to produce a number of end products, including polystyrene, paints, coatings and acrylic. India’s styrene consumption is around 9,00,000 mtpa, and as there is no domestic manufacturing capacity, the entire demand is met through imports. The project will be commissioned by FY27, IOCL has said.