IOC explores Rs 6,000 cr investment projects in WB

Indian Oil Corporation Ltd, is under taking feasibility studies for its petrochemical business in West Bengal worth Rs 6,000 crore. Production of Poly-Propylene and Phenol will bring in this investment.

The company presently under taking feasibility studies for poly-propelene, Will invest Rs 3500 crore for this project once the study is complete. It will have a production capacity of 60000 tonnes per annum.

It also undertaking feasibility study for putting up a phenol unit in West bengal with an approximate capacity of 250,000 tonnes per annum.

The capex for this project will be Rs 2,500 crore and the sites have not yet identified for this project.