This venture builds on IndianOil’s existing 15 MMTPA Refinery-cum-Petrochemical Complex at Paradip
Indian Oil Corporation Ltd. (IndianOil) signed a Memorandum of Understanding (MoU) with the Government of Odisha to set up a world-class Petrochemical Complex at Paradip. The MoU was exchanged within the presence of Hardeep Singh Puri, Minister of Petroleum and Natural Gas, Dharmendra Pradhan, Minister of Education, Mohan Charan Majhi, Chief Minister, Odisha, and other senior dignitaries.
With an funding of Rs. 61,077 crore, this marks IndianOil’s largest-ever funding at a single location and a transform step in India’s petrochemical and industrial development.
The approaching complex will house a dual-feed cracker and related downstream units for the manufacturing of extensive range of petrochemicals inclusive of Phenol, Polypropylene (PP), Isopropyl Alcohol (IPA), High-Density Polyethylene (HDPE), Linear Low-Density Polyethylene (LLDPE), Polyvinyl Chloride (PVC), Phenol, and Butadiene.
These products will function key raw material for specialty chemical sectors like pharmaceuticals, agrochemicals, coatings, and adhesives, substantially decreasing import dependency and helping the Aatmanirbhar Bharat and Make in India missions.
Speaking at the event, Puri stated, “This ultra-modern Petrochemicals hub will catalyse the development of Paradip Petroleum, Chemicals & Petrochemicals funding Region (PCPIR) and create direct & indirect employment chances in the region.”
Addressing the collection, Pradhan shared, “With petroleum sector funded more than 2.04 lakh crore in the last decade, Odisha is on-path to become one of the most essential hub of energy transition inside the world.”
Appreciating the funding in the state, Majhi remarked that the partnership will catalyse Odisha’s industrial growth, create employment, and make the state a top funding destination.
A. S. Sahney, Chairman, IndianOil, delivered, “We stand today on the cusp of a transform chapter—not just for the state of Odisha, but for India’s petrochemical landscape.”
This venture builds on IndianOil’s present 15 MMTPA Refinery-cum-Petrochemical Complex at Paradip and could improve downstream industries and MSMEs across Eastern India.
With this strategic funding, IndianOil maintains to boost its position as a national energy chief devoted to driving industrial transform and inclusive growth, while strengthening energy security.
