Odisha poised to become a petrochemical hub: Union Minister Patel
OIL & GAS

Odisha poised to become a petrochemical hub: Union Minister Patel

Union Minister Anupriya Patel stated that Odisha is prepared to become a leader in the petrochemical sector, which is projected to grow into a $1 trillion industry by 2047. Speaking at the "Advanced India: Indian Chemicals and Petrochemicals Paving the Future" conference, she emphasised that the eastern state, with its skilled workforce and strategic coastal location, is well-positioned to become a key hub in the sector.

She also mentioned that the India Chem 2024 summit, scheduled to take place in Mumbai from October 17-19 after a two-year break, is expected to draw substantial global participation.

Patel, the Minister of State for Chemicals and Fertilizers, explained that Odisha's advantageous factors will create immense opportunities for manufacturing, employment, and exports in the chemicals and petrochemicals industries. She further noted that the sector, currently valued at $220 billion, is expected to exceed $1 trillion by 2047. According to her, the government's focus on enhancing domestic manufacturing and reducing reliance on imports will accelerate growth.

Odisha's Minister for Industries, Skill Development, and Technical Education, Sampad Charan Swain, discussed the transformative impact of the state's industrial policies and incentives on the petrochemical sector. He emphasized improvements in infrastructure, port systems, and electricity tariffs, as well as the state's efforts to develop a skilled workforce to meet industry demands. Swain also highlighted the state government's commitment to investing in green technologies to reduce carbon footprints and achieve net-zero goals.

Nivedita Shukla Verma, Secretary of the Ministry of Chemicals and Fertilizers, explained the importance of the petroleum sector, which contributes eight per cent to the nation's manufacturing and three per cent to global sales. She pointed out that it is one of the fastest-growing markets worldwide and that the government is actively working to enhance its contribution to India's development, aiming to double petrochemical exports over the next decade.

Deepankar Aron, Joint Secretary of the Ministry of Chemicals and Fertilizers, announced that India Chem 2024 will feature over 200 companies and attract more than 7,000 visitors. The event will include B2B and B2G meetings, a global CEO forum, and roundtable discussions with representatives from countries such as Japan, Korea, Brazil, Argentina, and the UAE. He added that more than 40 organizations and industry associations from Odisha will participate in the event, and a job fair will be held for the first time.

Odisha's Chief Secretary, Manoj Ahuja, highlighted the state's expansion efforts in ports like Paradip, Gopalpur, and Dhamra, along with the development of national highways and roads.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

Union Minister Anupriya Patel stated that Odisha is prepared to become a leader in the petrochemical sector, which is projected to grow into a $1 trillion industry by 2047. Speaking at the Advanced India: Indian Chemicals and Petrochemicals Paving the Future conference, she emphasised that the eastern state, with its skilled workforce and strategic coastal location, is well-positioned to become a key hub in the sector. She also mentioned that the India Chem 2024 summit, scheduled to take place in Mumbai from October 17-19 after a two-year break, is expected to draw substantial global participation. Patel, the Minister of State for Chemicals and Fertilizers, explained that Odisha's advantageous factors will create immense opportunities for manufacturing, employment, and exports in the chemicals and petrochemicals industries. She further noted that the sector, currently valued at $220 billion, is expected to exceed $1 trillion by 2047. According to her, the government's focus on enhancing domestic manufacturing and reducing reliance on imports will accelerate growth. Odisha's Minister for Industries, Skill Development, and Technical Education, Sampad Charan Swain, discussed the transformative impact of the state's industrial policies and incentives on the petrochemical sector. He emphasized improvements in infrastructure, port systems, and electricity tariffs, as well as the state's efforts to develop a skilled workforce to meet industry demands. Swain also highlighted the state government's commitment to investing in green technologies to reduce carbon footprints and achieve net-zero goals. Nivedita Shukla Verma, Secretary of the Ministry of Chemicals and Fertilizers, explained the importance of the petroleum sector, which contributes eight per cent to the nation's manufacturing and three per cent to global sales. She pointed out that it is one of the fastest-growing markets worldwide and that the government is actively working to enhance its contribution to India's development, aiming to double petrochemical exports over the next decade. Deepankar Aron, Joint Secretary of the Ministry of Chemicals and Fertilizers, announced that India Chem 2024 will feature over 200 companies and attract more than 7,000 visitors. The event will include B2B and B2G meetings, a global CEO forum, and roundtable discussions with representatives from countries such as Japan, Korea, Brazil, Argentina, and the UAE. He added that more than 40 organizations and industry associations from Odisha will participate in the event, and a job fair will be held for the first time. Odisha's Chief Secretary, Manoj Ahuja, highlighted the state's expansion efforts in ports like Paradip, Gopalpur, and Dhamra, along with the development of national highways and roads.

Next Story
Real Estate

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

Next Story
Infrastructure Transport

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Next Story
Infrastructure Transport

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?