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
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?