Mumbai, Feb. 1: Indian Petrochemicals Corporation Ltd (IPCL) has earmarked investments worth Rs 350 crore to be made over the next four years to expand its cracker, petrochemicals and polymer capacities.

It has invested around Rs 929 crore in the past three years, mainly for minor capacity expansions and asset replacements.

In the next four years, the company plans to expand the cracker capacity at its Vadodara complex by 40,000 tonnes, benzene capacity by around 20,000 tonnes and polypropylene and polybutadiene capacities by 15,000 tonnes each.

At its Gandhar complex, the polyvinyl chloride capacity is proposed to be expanded by 1.35 lakh tonnes and mono ethylene glycol (MEG) by 39,000 tonnes. Moreover, PP capacity at the Nagothane complex will also be expanded by 15,000 tonnes.

The expansions form part of a wider plan to consolidate the company’s standing in the domestic market apart from pursuing growth opportunities in overseas markets. To achieve this, the company plans to enhance its operational efficiency, expand product offerings, develop new product applications and participate in growing global markets.

Seeing the success of Reliance Industries Ltd (RIL) in speciality products, IPCL is focussing on developing special grades in low-density polyethylene for packaging applications.