The Minister of State for Petroleum & Natural Gas Panabaaka Lakshmi informed the Lok Sabha in a written reply that Indian Oil Corporation Limited (IOCL) is setting up a Styene Butadiene Rubber (SBR) manufacturing plant at Panipat through its Joint Venture Company by the name of Indian Synthetic Rubber Limited. The equity investment made by IOCL as on 11.03.2013 is Rs 175.78 crore.
She also informed that the estimated annual production of SBR will be 1, 20,000 tonnes. The job opportunities expected to be created are 250 employees approximately (including permanent and contractual employees). “It is estimated to be commissioned in August, 2013”, the Minister added.