IOCL Gets Nod To Set Up Paradip Petrochemical Complex At Paradip, Odisha

Indian Oil (IOCL) on Wednesday said it was accorded ‘in-principle’ approval to carry out pre project activities including preparation of Detailed Feasibility Report for setting up Paradip Petrochemical Complex at Paradip, Odisha

This approval has an estimated project cost of Rs 61,077 crore.

IOCL said that the project will improve the Petrochemical Intensity Index of the company and de-risk its fossil fuel business.

“It shall also help to reduce the import dependency and contribute to vision of ‘Atmanirbhar Bharat’,” said IOCL in its regulatory filing.