Series of mega projects of Rs 11,000 crore to be launched at Paradip

Bhubaneswar: A series of mega projects worth more than Rs 11,000 crore of IndianOil and Paradip Port Trust will be unveiled at Paradip on February 6.

Union Tribal Affairs Minister Jual Oram, Petroleum Minister Dharmendra Pradhan and Road Transport and Highways Minister Nitin Gadkari are slated to be present at the occasion.

The projects include world-class Polypropylene (PP) Plant, built at a cost of Rs 3,150 crore. It will support the plastics industry of Eastern Region.

Monoethylene Glycol (MEG) Plant, estimated to cost Rs. 5,654 crore, will give a fillip to polyester industry/textile park in Odisha, said a statement.

0.6 MMTPA LPG Import Terminal, being built at a cost Rs. 690 crore, will enhance  availability of clean cooking gas in Odisha and neighbouring States.

Clean cargo berth to handle containers & clean cargo, diversify Paradip Port Trust’s cargo profile, and provide logistics support to local industries.

Mechanisation of existing berths and capacity augmentation to 30 million tonnes will facilitate coal exports, reduce pollution, said the statement.

Built at an investment of Rs 3,150 crore, the 680-KTA Polypropylene (PP) Plant, will increase IndianOil’s petrochemicals capacity to 3.15 MMTPA, with many other projects to follow.

It will also considerably reduce import of polypropylene grades, thereby saving foreign exchange for the exchequer.

The PP Plant shall act as the mother unit in nurturing the downstream plastics processing industry in the region.

The Ministers will also lay the foundation stone for Monoethylene Glycol Plant at Paradip Refinery.

A 357-KTA Monoethylene Glycol (MEG) Plant is also being set up at Paradip Refinery at an estimated cost of Rs 5,654 crore.

The project is being envisaged as a key driver for the growing textiles industry in the region and will cater to the increasing demand for polyester fibre.

With a textiles park proposed at Bhadrak, Odisha, there will be abundant opportunity to create synergy by supplying raw material to the downstream textile industries.

A joint press meet was held by IOCL and Paradip Port Trust on Monday in Bhubaneswar. It was addressed by Rinkesh Roy, Chairman, Paradip Port Trust, TDVS Gopalkrishna, Executive Director, Paradip Refinery, Pritish Bharat, SLC, Oil Industries, Sujoy Choudhury, CGM (Petrochemical –Marketing), IOCL, and S Pattnaik, CGM, HR, SERPL, IOCL.