Mangalore Refinery and Petrochemicals Ltd., (MRPL) Managing Director (Additional Charge) Sanjay Varma on Friday, said the company intends to set up a world-scale Isobutylbenzene production facility in the coming days.
Sanjay Varma, MD, MRPL | Photo Credit: SPECIAL ARRANGEMENT
Speaking at the 35th annual general body meeting held virtually, Mr. Varma said, a vital active pharma ingredient for the production of painkillers, IBB production will leverage an already granted patent of MRPL. He further said MRPL is examining transformation of plastic waste into monomers to establish a circular plastic economy. The company has filed for patent for this product, which is important from a sustainability perspective.
MRPL is also actively considering setting up a few other speciality chemical plants within the existing complex. Mr. Varma said the company was eager for its retail expansion with a goal of achieving one million tonnes of product sales through the MRPL RO network in the next five years through the HiQ brand.
Mr. Varma said the company has filed for 19 patents and already obtained four. Two of them hold significant potential for profitable business growth opportunities.
Arun Kumar Singh, chairman, MRPL | Photo Credit: SPECIAL ARRANGEMENT
Addressing the meeting, MRPL chairman Arun Kumar Singh said the company crossed a significant milestone by achieving a record-breaking Crude Throughput of 17.12 million tonnes, thus becoming the largest PSU refinery (single location) this fiscal. He also said the highest-ever capacity utilisation of 114% also coincided with the record production of key products such as LPG, MS, ATF and HSD.
He said the company’s marketing operations are expanding, with a strong pan-India presence in the polypropylene business. MRPL plans to achieve a substantial fuel sales milestone through its ‘HiQ’ brand retail network expansion. Additionally, the company is proactively venturing into alternative energy, with plans for biofuel production and Green Hydrogen production.
Director (Finance) Vivek Tongaonkar and other officials were present.
