Rs 1 lakh crore to be invested in hydrocarbon sector in Odisha

Bhubaneswar: Projecting Odisha as the future oil and gas hub of eastern India, Union Minister of State (Independent Charge) for Petroleum and Natural gas Dharmendra Pradhan today said about Rs 1 lakh crore is likely to be invested in the hydro-carbon sector in the state in next five to seven years.

“We are optimistic that about Rs 1 lakh crore to be invested in hydrocarbon sector in Odisha,” Pradhan told reporters on the sideline of inauguration of the ONGC’s office here.

This apart, the minister said the Centre has also planned an international standard skill development centre of excellence in Odisha to provide training to people in the hydro-carbon sector.

Pradhan said Prime Minister Narendra Modi is likely to visit Paradip in September or October to inaugurate the Indian Oil Corporation Limited’s (IOCL) refinery, which is on the verge of completion.

The Union minister said the petrochemical complex will follow the refinery at Paradip.

“As such, the work for the first project of the petrochemical complex, a polypropylene unit has, begun,” Pradhan said adding that a LNG terminal and a LPG terminal is also coming up in the state.

“We will soon have a strategic reserve of oil which is being developed at Chandikhole in Jajpur district,” he said adding that several pipeline projects are also taken up through Odisha.

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