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Toyo Engineering Awarded Contract to Build SBR Plant in India

6:53 AM MDT | May 27, 2011 | Deepti Ramesh

Toyo Engineering (Narashino, Japan) says its Toyo Engineering India (Mumbai) subsidiary has been awarded a contract by Indian Synthetic Rubber Limited (ISRL) to build a previously announced 120,000-m.t./year styrene butadiene rubber (SBR) unit at Panipat, India. ISRL is a joint venture among Indian Oil Corp. (IOC; New Delhi), TSRC Corp. (Taipei) and Marubeni. The three companies had announced plans to form the jv in April 2010, and IOC has a 50% stake in the jv, TSRC has 30%, and Marubeni holds the remaining 20%. The jv partners will invest a total of about $200...

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