Bhubaneswar: Make-in-Odisha (Utkarsh Odisha) 2025 opened account with Indian Oil Corporation Ltd. (IOCL) aiming to sign an MoU for establishing a Naphtha Cracker Project in Paradeep.
IOCL chairman A.S. Sahney has met with the chief minister Mohan Charan Majhi on Tuesday and discussed on the MoU in Make-in-Odisha event in January, 2025. Naphtha Project has got a principle approval and IOCL will invest over Rs 61, 000 crore for this project, which is going to be one of the largest projects in the sector in the Country. The State Government is an equity holder of this project, and will earn dividends in addition to taxes.
Sahney also discussed with the CM regarding the progress of various other ongoing and upcoming projects of IOCL in Odisha. The foundation for the upcoming Rs 4352 crore Yarn project of IOCL at Bhadrak will be laid in January. as per the information, various large scale garments manufacturing units will be coming up in the area after the completion of these projects.
The chairman said the ongoing Px-PTA (Para-xylene Purified Terephthalic Acid) project will be commissioned by June 2025. The IOCL is also setting up a floating solar project and ethanol project in the State.
Industries minister Sampad Chandra Swain, chief secretary Shri Manoj Ahuja, ACS to CM Nikunja Bihari Dhal, industries principal secretary Hemant Sharma were present in the discussion. IOCL Executive Director Abhijit Chakraborty and CGM Dhananjaya Sahoo also were there along with the chairman IOCL.
-OdishaAge
