PANIPAT, India (July 31, 2008) — Indian Oil Corp. said it plans to invest about $180 million to build an emulsion SBR plant in Panipat.
The firm aims to produce 120,000 metric tons per year at the facility, which would be Indian Oil's first SBR facility. The company said it will own a stake of 48 percent and bring in two partners by offering 32 percent and 20 percent interest each.
India currently imports its entire SBR requirement. Two butadiene facilities operate in the country.