Synthetic rubber plant at Panipat

IndianOil's synthetic rubber plant at Panipat

IndianOil Corporation Ltd, has entered into a joint venture with TSRC
Corporation, Taiwan, and Marubeni Corporation, Japan, to set up a
Rs.900 crore 120,000 tons per annum Styrene Butadiene Rubber (SBR)
unit at Panipat. This unit will utilize Butadiene feed made available
from IndianOil's Panipat Naphtha Cracker Complex to produce synthetic
rubber used in the manufacture of automotive tyres, conveyors, fan
belts, etc. The agreement was inked by B.M. Bansal, chairman, Indian
Oil; Wei-Hua Tu, CEO / president, TSRC Corporation, Taiwan; K. Hatta,
managing executive officer, Marubeni Corporation, Japan, and Wing
Keung Hendrick Lam, director, TTC, in the presence of senior officials
of the companies. The shareholding of Indian Oil, TSRC and Marubeni in
the Joint Venture is 50%, 30% and 20%, respectively. The project is
targeted to be completed by September 2012.
Times of India, New Delhi April 6, 2010