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IOC to commission SBR manufacturing plant by August 2013

Indian Oil Corporation (IOC) expects to commission Styene Butadiene Rubber (SBR) manufacturing plant located at Panipat in the state of Haryana by August 2013. The estimated annual production of SBR will be 120,000 tonnes.

IOC is setting up the plant through its joint venture company (JVC) by the name of Indian Synthetic Rubber. As on end of March 11, 2013 the equity investment made by the company stood at Rs 175.78 crore. It is expected that job opportunities for approximately 250 employees would be created including permanent and contractual employees.

IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.

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