Ipcl Increases Sales Targets

Indian Petro-chemicals Corporation (IPCL) has increased its sales volume target by 6 per cent to 10.45 lakh tonnes for the year 1998-99. The corporation has set the target for polymer production at 7.28 lakh tonne. The targets for saleable fibre and fibre intermediates are at 1.2 lakh tonne whereas the saleable chemicals target has been set at 1.97 lakh tonne. A memorandum of understanding was signed by K G Ramanathan, chairman and managing director, IPCL, with the Centre yesterday. The MoU has also drawn up detailed activities for the completion of the second phase at Dahej in Gujarat and the projects envisaged at Nagothane complex in Maharashtra. "These sales and production targets were set keeping in view the existing stringent market conditions prevailing in the petrochemical industry in the country and planned maintenance shutdown of certain plants'', according to IPCL press release.