Excelsior Correspondent
JAMMU, Jan 1: India’s largest commercial organization and the leading Fortune 500 company Indian Oil is focusing on value addition through the production of import substitutions. This was disclosed by Raj Kumar Ghosh, Director (Refineries), Indian Oil while addressing senior officials of the company in Delhi. India’s first Styrene Butadiene Rubber Plant has been set up at Panipat, Haryana under the umbrella of Indian Synthetic Rubber limited-a Joint Venture company of IOCL, TSRC and Marubeni for production of synthetic rubber, he added. In India Synthetic rubber consumption has increased due to the rapid industrialization of the Indian economy. The tyre sector is the largest end-use sector for synthetic rubber in India, he informed. Styrene Butadiene Rubber (SBR) which accounts for 40% of the total synthetic rubber demand is consumed mostly in the tyre sector. As the tyre production in India is increasing at a fast pace, the synthetic rubber consumption has also simultaneously increased, Ghosh added. This manufacturing unit of SBR was planned in the backdrop of this increasing demand for synthetic rubber and to reduce India’s import dependency as there has been no operating E-SBR capacity in India, he added. “2013 also saw the commissioning of Butadiene Extraction Unit at Panipat Naphtha Cracker Complex”, he said, adding that Butadiene, a value added product will be used as the feedstock for SBR production thus ensuring expansion in the entire value chain.
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