Indian Oil To Invest Rs 1268 Crore In Needle Coker Unit At Paradip Refinery In Odisha

New Delhi: The Indian Oil’s proposal to set up a grassroot needle coker unit at Paradip Refinery in Odisha with an investment of Rs 1268 crore has obtained the stage-1 approval from its board.

The proposed unit to be installed using Indian Oil’s in-house technology will have a Calcined Needle Coke (CNC) production capacity of 56 KTPA. With the production of CNC, Indian Oil will enter this niche product segment for the first time. CNC is used to produce graphite electrodes for steel industry.

SM Vaidya, Chairman of Indian Oil, said, “The needle coker unit is yet another significant step by Indian Oil towards de-risking the uncertainty in the POL business. The proposed unit will enhance the refinery gross margin and also demonstrate the company’s capability of supplying indigenously licensed technology in the niche product segments.”

Presently, the entire needle coke requirement of 80-100 KTPA in the country is met through imports. Its production at Paradip Refinery will reduce import dependency and contribute to the vision of Atmanirbhar Bharat.