IOCL Signs Odisha Cracker MoU
ECONOMY & POLICY

IOCL Signs Odisha Cracker MoU

Indian Oil Corporation Limited (IOCL) has signed a Memorandum of Understanding (MoU) with the Odisha government for setting up a Rs 610.00 bn naphtha cracker project at Paradip. The agreement was inked in the presence of newly sworn-in Chief Minister Mohan Charan Majhi, marking a major step in bolstering the state’s industrial growth.

The proposed naphtha cracker unit is expected to be a game-changer for Odisha’s economy. It will serve as a backbone for the petrochemical sector and catalyse the development of downstream industries. The mega project is aligned with the national vision of ‘Make in India’ and is projected to significantly boost local manufacturing capacity.

Spread across an industrial zone in Paradip, the project is anticipated to generate thousands of direct and indirect employment opportunities. It will also strengthen the region's economic infrastructure by attracting allied industries and investment.

Chief Minister Majhi emphasised the project’s role in Odisha’s growth trajectory, stating that such large-scale industrial investments will uplift the state’s socio-economic landscape. The naphtha cracker unit will produce essential petrochemical feedstock, enabling a host of plastic, textile, and packaging industries to thrive within the state.

Indian Oil Corporation Limited (IOCL) has signed a Memorandum of Understanding (MoU) with the Odisha government for setting up a Rs 610.00 bn naphtha cracker project at Paradip. The agreement was inked in the presence of newly sworn-in Chief Minister Mohan Charan Majhi, marking a major step in bolstering the state’s industrial growth. The proposed naphtha cracker unit is expected to be a game-changer for Odisha’s economy. It will serve as a backbone for the petrochemical sector and catalyse the development of downstream industries. The mega project is aligned with the national vision of ‘Make in India’ and is projected to significantly boost local manufacturing capacity. Spread across an industrial zone in Paradip, the project is anticipated to generate thousands of direct and indirect employment opportunities. It will also strengthen the region's economic infrastructure by attracting allied industries and investment. Chief Minister Majhi emphasised the project’s role in Odisha’s growth trajectory, stating that such large-scale industrial investments will uplift the state’s socio-economic landscape. The naphtha cracker unit will produce essential petrochemical feedstock, enabling a host of plastic, textile, and packaging industries to thrive within the state.

Next Story
Infrastructure Energy

Adani Power To Build 2,400 MW Plant in Bihar

Adani Power on Saturday (September 13, 2025) announced plans to set up a 2,400 MW ultra super-critical power plant in Bihar at an investment of $3 billion (around Rs 26.48 billion).The company has signed a 25-year Power Supply Agreement (PSA) with Bihar State Power Generation Company Ltd (BSPGCL) to supply electricity from the project, which will be located at Pirpainti in Bhagalpur district.The PSA follows a Letter of Award issued by BSPGCL to Adani Power on behalf of North Bihar Power Distribution Company Ltd (NBPDCL) and South Bihar Power Distribution Company Ltd (SBPDCL) in August. Adani P..

Next Story
Infrastructure Energy

NTPC Plans Nuclear Power Projects Via JV and Standalone Routes

Power major NTPC is planning to develop nuclear power projects both through joint ventures and on a standalone basis, CMD Gurdeep Singh has said.The company is collaborating with nuclear technology providers and state governments to explore individual nuclear projects, Singh added.Currently, the NTPC Group has an installed capacity of 82,926 MW across 53 NTPC-owned stations and 53 joint venture or subsidiary stations, drawing power from coal, liquid fuel, hydro, and solar sources.In December 2024, Singh had announced NTPC’s ambitious plan to enter the nuclear energy sector, a move expected t..

Next Story
Infrastructure Transport

RVNL Wins $21.6 Million Bhopal Division Traction Substation

Rail Vikas Nigam (RVNL) has been declared the lowest bidder for a $21.6 million traction substation contract awarded by the West Central Railway.The project covers the design, modification, supply, erection, testing, and commissioning of a 220/132kV/2×25kV Scott-connected traction substation, switching posts, Auto-Transformer installations, and Supervisory Control and Data Acquisition (SCADA) systems in the Bina–RTA section of the Bhopal Division. The execution period is set at 540 days.In a regulatory filing, RVNL stated that the order was secured in the ordinary course of business and doe..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?