New Delhi: Indian Oil Corporation Limited (IOCL) has highlighted the transformative role of its Paradip Refinery in driving industrial development, employment generation and sustainable growth in Odisha.
Backed by cumulative investments of over Rs 43,359 crore and a series of expansion projects, Paradip Refinery has been strengthening India's energy and petrochemical ecosystem.
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According to an official statement, the investment at Paradip includes Rs 34,555 crore in refinery units, Rs 3,150 crore in the Polypropylene Plant and Rs 5,654 crore in the Mono Ethylene Glycol (MEG) Plant. These facilities currently support the livelihoods of more than 12,500 people in and around Paradip.
Further, Indian Oil is also investing Rs 13,805 crore in the ongoing Paraxylene-Purified Terephthalic Acid (PX-PTA) Project, which is expected to strengthen the country's petrochemical value chain. Additionally, around Rs 4,382 crore is planned for the Bhadrak Textile Park Project through a joint venture with MCPI Private Limited, while another Rs 1,064 crore has been earmarked for a Hydroprocessed Esters and Fatty Acids (HEFA)-based Sustainable Aviation Fuel (SAF) Project through a joint venture with M11 Energy Transition Pvt. Ltd.
The company said these strategic investments are aligned with its vision of developing Paradip into an integrated energy and petrochemical hub while supporting the Government of India's Aatmanirbhar Bharat initiative and facilitating the transition towards cleaner energy.
On the operational front, Paradip Refinery achieved its highest-ever crude processing of 16.35 million metric tonnes (MMT) during FY 2025-26. The refinery also commissioned the Standby Sulphur Recovery Unit-III (SRU-III) and the New Hydrogen Generation Unit (NHGU), while the 1.2 MMTPA Purified Terephthalic Acid (PTA) Unit under the PX-PTA Project is nearing completion.
Paradip Refinery also earned several prestigious recognitions during FY 2025-26, including the Kalinga Safety Excellence Award, Kalinga Environment Excellence Award, National Safety Council of India (NSCI) Safety Award, and the Green Champions Award, reflecting its strong focus on operational excellence, safety and environmental stewardship.
The refinery contributed more than Rs 30,392 crore to the Central and State exchequer during FY 2025-26 through various duties, taxes and levies.
On the social front, Indian Oil has spent Rs 56.71 crore on Corporate Social Responsibility (CSR) and Corporate Environment Responsibility (CER) initiatives between FY 2014-15 and FY 2025-26, supporting education, healthcare, skill development, nutrition, rural development, self-employment and welfare programmes for underprivileged communities.
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Commenting on the refinery's growth, Kausik Basu, Executive Director and Refinery Head, Paradip Refinery, said the refinery has emerged as a symbol of industrial excellence, innovation and inclusive development. He added that Indian Oil's continued investments reaffirm its commitment to building Paradip into a world-class integrated refinery and petrochemical hub that enhances India's energy security, promotes sustainable development and creates long-term value for Odisha and the nation.
Dedicated to the nation in February 2016, Paradip Refinery is the largest refinery on India's eastern coast and serves as a key energy gateway for eastern India. Indian Oil said the refinery continues to set benchmarks in safety, reliability, operational performance and environmental management while playing a pivotal role in the country's energy landscape.
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