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IndianOil Signs MoU with Government of Odisha for Mega Petrochemical Project in Paradip
8th April 2025
In a landmark development, Indian Oil Corporation Ltd. (IndianOil) has signed a Memorandum of Understanding (MoU) with the Government of Odisha to set up a world-class Petrochemical Complex at Paradip
With an investment of Rs 61,077 crore, this marks IndianOil’s largest-ever investment at a single location and a transformative step in India's petrochemical and industrial growth
The upcoming complex will house a dual-feed cracker and associated downstream units for the production of wide range of petrochemicals including Phenol, Polypropylene (PP), Isopropyl Alcohol (IPA), High-Density Polyethylene (HDPE), Linear Low-Density Polyethylene (LLDPE), Polyvinyl Chloride (PVC), and Butadiene
These products will serve as key raw materials for specialty chemical sectors like pharmaceuticals, agrochemicals, coatings, and adhesives, significantly reducing import dependency
This state-of-the-art Petrochemicals hub will catalyse the development of Paradip Petroleum, Chemicals & Petrochemicals Investment Region (PCPIR) and create direct & indirect employment opportunities in the region
This project builds on IndianOil’s existing 15 MMTPA Refinery-cum-Petrochemical Complex at Paradip and will boost downstream industries and MSMEs across Eastern India