IOCL, IDCO ink pact to set up plastic park at Paradip

A 700 kilo tonnes per annum Polypropylene unit at Paradip refinery to be built by IOCL

GN Bureau | November 17, 2017


#Oil and Natural Gas   #IOCL   #PSU   #Dharmendra Pradhan  

Minister for petroleum and natural gas, skill development & entrepreneurship Dharmendra Pradhan has lauded the state run Indian Oil Corporation and IDCO (Industrial Development Corporation of Odisha) for signing a pact to establish a plastic park at Paradip in Odisha.

Pradhan was speaking at the inaugural of Petrochemical Investors Conclave in Bhubaneswar.

He said that India’s petrochemicals sector is growing at the rate of 14-15 percent annually. Odisha, with ready availability of raw material from Paradip refinery and other units from all over the country, skilled, low-cost manpower, port infrastructure and rail connectivity and a large regional market, must utilise the opportunity to create investment opportunities in the downstream industries such as Plastic Park and Textiles Park in the state, he said.

Besides, IOCL is setting up a 700 kilo tonnes per annum Polypropylene unit at Paradip refinery, to be commissioned in 2018 which would serve as a mother plant for downstream polymer/plastics ancillary units.

IOC and Institute of Chemical Technology (ICT), Mumbai have also inked a MoU to set up a campus of ICT in Bhubaneswar.

Similarly, IOCL has collaborated with MCPI Ltd. for setting up a Textiles Park in Odisha.

While the per capita consumption of plastics in India is only 10 kg as compared to the world average of 32 kg, it is much lower at 5 kg in eastern India, he said.
 

Comments

 

Other News

Reboot PPP in India, says Niti Aayog specialist

The government needs to undertake more concerted efforts to revive the credibility of Public Private Partnership (PPP) framework and build capacity within various public institutions for PPP implementation, said a Niti Aayog specialist. In a blog

“IT/ICT will be a significant game changer in education”

Ending an extended period of stagnation, public sector enterprise Educational Consultants of India Limited (EdCIL) doubled its turnover in 2015-16 and has maintained it for 2016-17. In conversation with Praggya Guptaa, EdCIL’s CMD Diptiman Das talks about the PSUs future plans and the potential o

“We want India to support us on the security front also”

Close on the heels of the new US policy towards Afghanistan, India gave a new meaning to its strategy towards the country when it took the Chabahar route to supply wheat to the insurgency-hit landlocked nation. In conversation with Shankar Kumar, Afghanistan ambassador Shaida Mohammad Abdali talks abou

Should private hospitals be nationalised?

Should private hospitals be nationalised?

GAIL hosts oil and gas conclave

 GAIL Limited organised two day-long oil and gas health safety and environment (HSE) conclave for oil and gas enterprises on Friday at Noida GAIL director (projects) and chairman of the conclave, Ashutosh Karnatak laid emphasis on the importance of operation and maintenance aspect of the oil

Gujarat Elections: For BJP, voters show both pride and prejudice

Familiarity, it is said, breeds contempt. But a two-decade-long association of a political party with the electorate is bound to unleash demons of contempt, jealousy and disaffection.  If one looks at confusing signals emanating from Gujarat, most of them are coming from voters’ high d



Video

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter