Union Petroleum Minister Veerappa Moily on 29 November 2013 inaugurated the first "Synthetic Rubber Plant" of the country at Panipat in Haryana.
The country’s first e-SBR (styrene butadiene rubber) unit was set up by Indian Synthetic Rubber Ltd (ISRL), a joint venture promoted by Indian Oil, TSRC Corporation, Taiwan, and Marubeni Corporation, Japan.
The plant will produce 120 kilo tonnes synthetic rubber annually, which would be used in industrial units for manufacturing automobile and daily need products. It is planned to increase the capacity of the plant to 220 KT in next two years.
The project, which is estimated to cost 958 crore rupees, has been funded through debt raised from Japan Bank for International Cooperation and Mizuho Corporation Bank. Technology for the manufacturing unit is being provided by TSRC Corporation.
Who: Union Government
When: 29 November 2013