IndianOil to Establish £90m Synthetic Rubber Facility
IndianOil, the largest company in India in terms of sales and profit, intends to establish its first styrene butadiene rubber (SBR) facility. This plant, located at Panipat in the north of India and to be built at an investment price of Rs 7.61 billion (£90.55 million), will be 48 per cent owned by IndianOil. The company plans to offer two further investors respective shares of 32 per cent and 20 per cent in the 120,000 tonne per annum emulsion SBR project.