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IOCL To Invest 1L CR


Indian Oil Corporation Limited (IOCL) has decided to expand its existing Refinery Unit in order to set up a Mega Petrochemical Complex at Paradip with an investment of more than Rupees One Lakh Crore.


Massive investment has been planned in the State as Union Minister Dharmendra Pradhan is harping on more and more investment in this Eastern State, which has huge potential.

While IOCL has proposed to invest Rs.1,00,300 Crore for the Petroleum Complex at Paradip, where there is lot of space and the existing Refinery Unit is running well, it has also proposed to set up PX-PTA Complex with an investment of over Rs.9000 Crore.

IOCL is having 11 Refineries out of 23 Refinaries operating in the Country is having a combine capacity of 80.7 MMTPA.

With a turnover of Rs. 6,05,924 crore and a net profit of Rs. 16,894 crore in 2018-19, lndianOil is recognized as one of India's most valuable companies.

The Refinery Unit, having 15 Million Metric Ton Per Annum (MMTPA) will be expanded to 25 MMTPA, which will require about 4200 Acres of land.

While both Government and Private Land is available, assessment is being done by an expert in the field.

This expansion will create new employment opportunities for nearly 6000 people. So with the expansion of the Complex will have both direct and indirect job opportunities for over 12,500 people.

Cracker Unit will come up with 4 MMTPA Capacity and Petcoke Gasification Plant will come with 1.3 MMTPA capacities.

Petroleum Complex will have Product Lines of Ethylene, Propylene, Poly Propylene, High Density Poly Ethylene, Low Density Poly Ethylene, Butadiene, Benzene, Ammonia, Suphur with various capacities.

IOCL has commissioned its Paradip Refinery with a capacity of 15 MMTPA on 16 February, 2016 with an investment of nearly Rs.35,000 Crore.

Refinery is producing products like Petrol, Diesel, Kerosene, Aviation Turbine Fuel(ATF), Sulphur and Petroleum Coke.

And now the Petroleum Major is on expansion mode to expand its capacity to 25 MMTPA.

IOCL has proposed to set up Purified Terephthalic Acid (PTA) Plant with an capacity of 1.2 MMTPA in its existing Refinery Complex at Paradip.

It will invest Rs.9,136.90 Crore in this Expansion Project, which will add it the value of IOCL.

This will create an employment potential of 3200, both direct and indirect manner.

So with the expansion of Petroleum Complex, job opportunities for more than 15,000 people will be created and such a massive employment opportunities will have its positive impact for the area, said an Industrial Consultant.


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