IOC commissions bitumen plant in Haldia

State-run Indian Oil Corp. (IOC) has commissioned a bitumen plant at its Haldia refinery in West Bengal. The commissioning of the Cryogenic Nitrogen Plant is a significant step forward in IOC’s effort to attain self-sufficiency and lower operating cost of the refinery to enhance margins, IOC Chairman Sarthak Behuria said. IOC is currently implementing projects worth more than Rs50,000 crores (US$12.4 billion). Major projects include a refinery-cum-petrochemicals complex at Paradip, a naphtha cracker with downstream polymer units at Panipat refinery and a residue-upgrading project at Gujarat refinery. (July 3, 2007)