Bhubaneswar: The board of Indian Oil Corporation Limited (IOCL) has accorded Stage-I approval to set up Paradip Petrochemical Complex at a cost of Rs 61,077 crore.
This will be IOCL’s largest-ever investment at a single location, the IOCL said.
“We thank the Government of Odisha for the incentive package for this project that will produce vital petrochemical products like PVC, Phenol, IPA and Polymers. It will vitalise key downstream industries like plastic, pharma, agrochemical, personal care, paints, etc. and support Aatmanirbhar Bharat,” the company said.