A new polypropylene plant will come up at IndianOil’s Paradip Refinery Project complex at Paradip in India’s eastern coastal state of Odisha.
Foundation for the Rs 3150 crore polypropylene plant was laid by Minister of State for Petroleum and Natural Gas (Independent charge), Government of India, Dharmendra Pradhan, on November 16, 2014.
Speaking at the event, Pradhan emphasised on the need for faster pace of industrial development to realize Prime Minister Narendra Modi’s dreams. He said the new polypropylene plant will pave way for developing petrochemical hub in the region.
The Union Minister said IndianOil is also evaluating the feasibility of setting up of Ethylene Derivative Plant at an estimated cost of nearly Rs 4000 crore. Such a project would act as a catalyst in the socio-economic development of the country and the state in particular. It will provide products that will facilitate manufacturing of polyester chips, fibres, PET bottles, PET chips, polyester yarn, etc.
B Ashok, chairman IndianOil outlined the key benefits of the project aligning with the coming up of Paradip Refinery slated to be commissioned this fiscal. Upon its commissioning, the Paradip Refinery—IndianOil’s most prestigious and capital intensive project till date—will provide a boost to the state of Orissa and the entire Eastern region.
IndianOil’s director (refineries) Sanjiv Singh said the laying of the foundation stone of the 700 TMTPA polypropylene unit marks the first step in the direction of integration and progress.
Paradip Refinery will be catering to the energy needs of Odisha, Andhra Pradesh, Madhya Pradesh, Uttar Pradesh, Bihar, Jharkhand, Chattisgarh and West Bengal states. (RKS)
