Tuesday, July 5th, 2022 08:36:06

IndianOil Board accords Stage-I approval for : setting up the first-ever Styrene Project in India

Updated: August 2, 2021 4:15 am

The IndianOil Board has accorded “Stage – 1” approval for implementation of India’s first-ever “Styrene Monomer Project” with a capacity of 387 thousand metric tonnes per annum (TMTPA) at an estimated cost of Rs 4,495 crore, at IndianOil’s Panipat Refinery & Petrochemical Complex. This project will strengthen India’s focus to harness opportunities in the petrochemical sector and sync with the Government of India’s “Atmanirbhar Bharat” mission.

Earlier in February 2021, the IndianOil Board approved the Panipat Refinery Expansion Project to enhance its capacity from the existing 15 MMTPA to 25 MMTPA with a CAPEX of Rs 32946 Crore. As part of the Expansion Project, a new high severity Fluidized Catalytic Cracking Unit (FCCU) of 2.5 MMTPA capacity, based on IndianOil’s flagship INDMAX technology, would be set up to maximize LPG production and manufacture basic petrochemical building blocks – Propylene and Ethylene. There is a Propylene potential of around 514 KTA of in the project, which would be utilized for the production of Polypropylene (PP) through a new PP unit. The Styrene Project aims to utilize the Ethylene potential from the INDMAX Unit alongside the Benzene that is already being produced at the Panipat Complex.

Styrene is used to produce Poly Styrene, Paints & Coatings / Acrylic, Unsaturated Polyester Resins, and Elastomers such as Acrylonitrile Butadiene Styrene (ABS), Styrene-Butadiene Rubber (SBR) etc. Presently India’s Styrene consumption is around 900 TMTPA, and the demand is expected to increase consistently over the next 15-20 years. However, there is no domestic Styrene capacity in India, and the entire demand is  met through imports from Singapore, Middle East and Southeast Asia,  causing significant inconvenience  to the domestic Styrene downstream industry. The proposed Styrene  Project will address this issue to a great extent and reduce nation’s import dependence substantially. Thus, considerable forex savings of about Rs. 3650 crore (USD 500 million) per annum is likely to be generated.

 

SAIL earns net profit of Rs 3850 crore in FY21

Steel Authority of India Limited (SAIL) has announced the company’s annual as well as fourth quarter performance for the financial year FY 2020-21 (FY21) recently. SAIL has exhibited strong performance in all parameters in FY21 despite the unprecedented challenges posed by the Covid-19 pandemic.

While commenting on the company’s performance during FY21, Smt. Soma Mondal, Chairman, SAIL said, “The production performance and financial performance of the company have improved hand-in-hand during the year. ‘Team-SAIL’ worked committedly notwithstanding severe and unforeseen challenges posed by the pandemic of Covid-19 especially during the first half. The second half saw buoyancy in steel demand on the back of recovering economic activities. With the government also

putting thrust on infrastructure spending, we focused on scaling up market driven products along with improvement in operational efficiency, which helped the company deliver a noteworthy performance”.

 

NVVN invites bid for Hydrogen buses for Delhi & Leh

NTPC Vidyut Vyapar Nigam Limited (NVVN) a wholly owned subsidiary of NTPC ltd, has invited tenders for deploying of Hydrogen Fuel Cell Buses (FCEBs) in Delhi and Leh.

The bid document sale commenced from 30th June, 2021 and will continue till 16th July, 2021.

These e-buses would be zero emission vehicles in true form, as the hydrogen would be generated from renewable energy making it a pure green initiative ushering a new era of Hydrogen based Zero Emission futuristic mobility solutions.

The green hydrogen would be supplied to the buses by the NTPC Renewable Energy Ltd. Green hydrogen is produced using renewable energy and electrolysis to split water. Also, NVVN is providing a comprehensive mobility solution in all e-vehicle segments targeting reduction of carbon footprint and achieving energy security.

Earlier this year, NVVN executed a turnkey project of supplying 40 e-buses and building charging stations in Andaman & Nicobar Island, a move to reduce pollution in the region.

 

POWERGRID CONDUCTED RAT TESTING DRIVE AT REGIONAL HEADQUARTERS, JAMMU 

A two-day special camp for Covid Rapid Antigen test was organized for the employees and contract laborers of POWERGRID Regional Headquarters, Jammu on 6th and 7th July, 2021. During the camp, a total of 153 samples were taken and all are found COVID-19 negative. This initiative of POWERGRID shall help to protect the employees, their families, stakeholders and the community. Regular testing provides an extra layer of defence against the spread of the deadly COVID-19 virus. This will also reduce the risk of outbreaks by regularly testing and screening of the employees in order to identify at-risk employees, as well as those who could potentially be harboring the virus or showing early signs of infection. Earlier, POWERGRID had also conducted vaccination drive for the employees, their family members and contract laborers and about 95% of them have been their vaccination till date. In addition, all the establishments of POWERGRID are following the COVID-19 related protocols and as public health measures such as frequent sanitization of work place, physical distancing, installation of sanitizers at appropriate places, wearing a mask and vaccination, employees screening will help to slow the spread of COVID and safely reopen the economy.

 

Chairman and MD, CEL, felicitated company employees

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