Odisha’s big petrochemical push: Investments over Rs 2 lakh crore cleared

Bhubaneswar: With an aim to become the petrochemical hub of the East, Odisha government today cleared mega investment proposals of M/s Haldia Petrochemicals Ltd (HPL) and Indian Oil Corporation Limited. In total, 5 proposals worth Rs 2,04,069 crore were also cleared by the High Level Clearance Authority (HLCA) headed by the Chief Minister Naveen Patnaik today.

As per official sources, approval has been accorded to Haldia Petrochemicals Ltd (HPL)’s Hydrocarbon processing complex comprising of light crude oil refinery, Aromatics complex and Ethylene cracker complex near the proposed Subarnarekha port in Balasore. All the projects will come up at an estimated cost of Rs 78,255 crore and would provide jobs to 10,000 people.

The second proposal of Indian Oil Corporation Limited to expand its existing refinery unit from 15 MMTPA to 25 MMTPA, and setting up a petrochemical complex including a dual feed cracker, Naphtha cracker and Petcoke Gasification Plant at Paradip was also cleared by HLCA. All these projects promise an investment of Rs 1,00,300 crore and jobs to over 12,595 people.

Another proposal of IOCL to set up 1.2 MMTPA capacity PX-PTA (Purified Terphthalic Act complex) with an investment of Rs 9,136 crore in its existing refinery at Paradip has also been approved today. The new project will provide employment to over 3,000 people.

The High Level Clearance Authority (HLCA) of Odisha also approved the proposal of Jindal (India) Limited in the metal downstream sector including the proposal of setting up of a cold rolling complex of 0.50 MTPA and steep processing plant at Kalinga Nagar Industrial Complex in Jajpur with a total investment of Rs 1,676 crore. The project promises to provide employment to about 1,300 people.

The proposal of M/s Talcher Fertilizer Limited to set up a coal based urea fertilizer complex at Talcher with an investment of Rs 14, 732 crore was also approved by the HLCA today.a