ERJ staff report (DS)
Panipat,India -- State-controlled Indian Oil Corp. said it has formed a joint venture with TSRC Corp. and Marubeni Corp. tobuild a 120 000 tonne/year Styrene Butadiene Rubber (SBR) unit at Panipat. The SBR unit will utilise Butadiene feed made available from IndianOil's Panipat Naphtha Cracker Complex located in Panipat to produce high quality synthetic rubber.
The shareholding of IndianOil, TSRC and Marubeni in the Joint Venture is 50%, 30% and 20% respectively. The project is targeted to be completed by September 2012 at an estimated cost of Rs. 900 Crore (Euro 150 million).
TSRC based in Taiwan focusses on emulsion grades of SBR.
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Press release from Indian Oil