Central Institute of Petrochemicals Engineering & Technology (CIPET) (formerly known as Central Institute of Plastics Engineering & Technology (CIPET)) was established in 1968 by Government of India with the assistance of United Nations Development Programme (UNDP) at Chennai. The main objective of setting up of this specialized institute was to develop manpower in different disciplines of Plastics Engineering & Technology as no similar institute was in existence in the country. International Labour Organization (ILO) served as the executing agency. During the initial project period between 1968 and 1973, the institute achieved the targets envisaged and was rated as one of the most successful UNDP projects implemented worldwide. Today CIPET is a premier Academic institution for higher & technical education under the Ministry of Chemicals & Fertilizers, Govt. of India fully devoted in all the domains of plastics viz:- Design, CAD/CAM/CAE, Tooling & Mould Manufacturing, Production Engineering, Testing and Quality Assurance. CIPET operates from various locations spread across the country to cater the needs of the Polymer and allied industries. 

The Central Institute of Petrochemicals Engineering & Technology (CIPET) IPT Chennai annually organizes a prestigious national-level technical symposium known as FACTURERZ. This event is spearheaded by the Department of Manufacturing Engineering and features a diverse array of technical and non-technical events designed to foster innovation and knowledge. The symposium is meticulously organized by the final-year students of the B.E. Manufacturing Engineering program, providing them with invaluable experience in event management and coordination.