The mono ethylene glycol unit of 303,000 tpa capacity of IOC's Panipat naphtha cracker project will be completed by March 2010. As per the original schedule it was to be completed by mid-2009.
IOC has awarded the lump sum turnkey package of MEG to Samsung Engineering at an estimated cost of Rs 1,263 crore. IOC wanted the project to be completed in 26 months, but Samsung has agreed to complete it in 34.5 months.
The project is part of the Rs 11,400 crore petrochemical complex being implemented by IOC at Panipat. The petrochemical plant would cover 750 acres, adjacent to the Panipat refinery.