Indian Oil's Paradip Petchem Complex will be its single-largest investment in one location

New Delhi: State-owned Indian Oil's Paradip Petrochemical Complex will be the largest-ever investment of Indian Oil at a single location, said the company in a statement. "The Board of Indian Oil approved the mega project on March 21," it added.

Features of the complex

Highlighting the features of the complex, the statement said, "The petrochemical complex shall include a world-scale Cracker unit along with downstream process units for producing several petrochemical products including Poly propylene (PP), High Density Polyethylene (HDPE), Linear Low-Density Polyethylene (LLDPE), Poly Vinyl Chloride (PVC) etc. It shall also facilitate the production of niche chemicals and petrochemicals like Phenol and Iso Propyl Alcohol." 

Benefits of the mega project

"This mega project shall significantly improve the Petrochemical Intensity Index of Indian Oil. It shall be a growth driver in making the Company a major player in the Petrochemical industry while strengthening India’s self-reliance in the petrochemical sector," the statement added. 

"This project will catalyse the growth of PCPIR and Plastic Park at Paradip. On commissioning of this project, domestically available Petrochemicals are expected to provide feed and vitalise industrial growth in key downstream industries like plastic, pharma, agrochemical, personal care, paints, etc. It is also expected to create employment opportunities in eastern India, especially Odisha," the statement added.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)