Odisha pitches for investment in chemical and petrochemicals sector

Mumbai: The Odisha government on Monday invited the investors to invest in the chemical and petrochemicals sector in the state.

Odisha Industries Minister Dibya Shankar Mishra informed that chemical and petrochemicals are one of the six priorities in the state.

He participated at the two days summit on Global Chemicals & Petrochemicals Manufacturing Hubs in India held at Mumbai on Monday.

The investment in petrochemicals will help in furthering common good and bringing a profound impact in the lives of the poor and downtrodden bringing about a qualitative change in their lives, said the Minister.

He stated that Odisha enjoyed a stable political environment, zero tolerance to corruption, low operation cost and a single-window scheme and is an ideal destination for investment.

On this occasion, he also said that the state government is giving special emphasis on the development of the Petroleum, Chemicals and petrochemicals Investment Region (PCPIR) at Paradip and the state government has also developed a Plastics Park at Paradip.

On behalf of the state government, he invited all the investors for taking the business reforms and state-of-the-art infrastructure facilities in Odisha and set up manufacturing units in the state.

Industries secretary Hemant Sharma made a presentation on petrochemicals and chemical ecosystems in Odisha highlighting how Odisha is the most favourable investment destination in the country.

He said that Odisha enjoyed a competitive advantage in terms of low manpower costs, conducive power tariffs and low cost of living.

Naturally endowed with coal, bauxite and chromium, Odisha is an ideal investment destination and with a revenue surplus budget which is well suited to address the concern of the industries, he added.