IOCL to Invest Rs 610.77 Bn in Paradip Petrochemical Complex

11 Apr 2025 CW Team

Indian Oil Corporation (IOCL) has announced an investment of Rs 610.77 billion to set up a state-of-the-art petrochemical complex at Paradip, Odisha. This marks the company’s largest-ever investment at a single location and represents a significant step in IOCL’s strategy to expand its petrochemical footprint as part of its long-term transition plan.

The proposed complex has received Stage-1 approval from IOCL’s Board and will feature a world-scale cracker unit along with multiple downstream processing units. These units will produce essential petrochemical products including polypropylene (PP), high-density polyethylene (HDPE), linear low-density polyethylene (LLDPE), and polyvinyl chloride (PVC). Additionally, it will manufacture specialised chemicals such as phenol and isopropyl alcohol, thereby strengthening India’s domestic production capacity in high-demand industrial materials.

The Paradip petrochemical project is designed to enhance IOCL’s petrochemical intensity—the percentage of crude oil converted into chemicals. Currently standing at 5–6 per cent, IOCL aims to increase this to 25 per cent, in line with capacities at its new facilities in Paradip and Panipat, which are already operating at 15–20 per cent.

This mega project is also expected to act as a catalyst for regional industrial development by providing a reliable domestic feedstock supply to sectors like plastics, pharmaceuticals, agrochemicals, personal care, and paints. Furthermore, it will support the growth of the Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) and the Plastic Park at Paradip. The project is projected to generate substantial employment opportunities and contribute to the economic development of Eastern India.

News source: Projects Today

Equipment

09 Mar 2026

Company showcases North America-certified machinery and secures new deals

Zoomlion Heavy Industry Science & Technology Co., recently showcased a wide portfolio of North America-certified and customised construction equipment at CONEXPO-CON/AGG 2026 in Las Vegas. The display included engineering hoisting machinery, concrete equipment, earthmoving machinery, mining equipment and construction hoisting solutions tailored to regional operational requirements.All equipment presented at the exhibition complies with North American certification standards, with several models specifically developed to meet local regulatory requirements and site conditions. One of the hig..

Sinoboom Launches Dual-ETM Smart Technology

Sinoboom recently introduced its Dual-ETM Smart Technology at CONEXPO-CON/AGG 2026, designed to enhance battery endurance and operational efficiency in electric boom lifts.The new technology integrates advanced components that enable real-time optimisation of power usage during equipment operation. By calculating the precise power requirement instantly, the system delivers only the energy needed for each movement, reducing the inefficiencies associated with conventional maximum-demand power systems.The solution incorporates multiple sensors—including pressure, weight, length and level sensor..

Ramky Infra Wins Rs 14.01 Bn DMIC Project

Ramky Infrastructure has secured an engineering, procurement and construction (EPC) contract worth Rs 14.01 billion from Maharashtra Industrial Township Limited (MITL) for infrastructure development in Phase 1 of the Dighi Port Industrial Area (DPIA) under the Delhi–Mumbai Industrial Corridor (DMIC).The project, located in Raigad district of Maharashtra, involves comprehensive infrastructure works including design, engineering, construction, testing and commissioning, along with operations and maintenance. The contract includes a four-year operations and maintenance period after commissionin..