IOCL to Invest Rs 610.77 Bn in Paradip Petrochemical Complex
OIL & GAS

IOCL to Invest Rs 610.77 Bn in Paradip Petrochemical Complex

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

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

Next Story
Technology

We’re building robots that flow, not just move

Founded in 2021, Flo Mobility is reimagining construction automation with vision-AI robots designed for seamless movement through complex sites. In conversation with CW, Manesh Jain, Founder & CEO, discusses the company’s origin, its LiDAR-free tech stack, and expansion plans in the Middle East and US.What inspired the name Flo Mobility? Why ‘Flo’ and not ‘Flow’?When we started the company in 2021, our focus was on building autonomous navigation systems for robots. Since our work centred around robot movement, ‘mobility’ naturally became part of the name. We wanted to co..

Next Story
Real Estate

We’re committed to setting benchmarks in sustainable luxury living

From a landmark land acquisition in Boisar to ambitious launches across the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru and Pune, Birla Estates is driving future-ready growth with a strong focus on sustainability, partnerships and premium living, firmly anchored in its LifeDesigned® philosophy. K T Jithendran, Managing Director & CEO, outlines the company’s premium, sustainable growth playbook in conversation with PRATAP PADODE, Editor-in-Chief, CW. Excerpts:Birla Estates recently acquired a 70.92-acre land parcel in Boisar, Maharashtra, for..

Next Story
Infrastructure Urban

Mumbai’s land crunch and ageing homes call for structured renewal

Founded in 2022, Etonhurst Capital Partners is a real-estate fund management platform focused on the Indian market. As the firm achieves the first close of Rs 1.8 billion for its debut Rs 5 billion fund, Bamasish Paul, Co-founder, Managing Partner & CEO, discusses its sharp focus on redevelopment-driven value creation in Mumbai’s urban core with CW. Excerpts:Etonhurst Capital has achieved a significant milestone with the first close of Rs 1.8 billion for its Rs 5 billion fund. What factors contributed to this early success and how do you plan to attract further investments to r..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?