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

Lost in Transmission: Why calls ‘drop’, what can be done about it

Random call drops across cellular networks has been a major nuisance for consumers. Despite the advent of technologies like 4G, 5G and users upgrading their phones, they continue face the same old problem of call drops. Earlier, with 2G, calling was the primary service from the mobile telephony firms, howe

India’s Semiconductor Mission takes giant leap

The union cabinet on Thursday approved the establishment of three semiconductor units under ‘Development of Semiconductors and Display Manufacturing Ecosystems in India’. Involving a total investment of nearly Rs 1.26 lakh crore, the three units  -- two in Gujarat, one in Assam – wil

Mumbai Airport: Less congestion, fewer delays, says MoCA

Mumbai is one of busiest airports in India, handling a large volume of domestic and international flights including military, non-scheduled and general aviation flights. Mumbai`s Chhatrapati Shivaji Maharaj International Airport (CSMIA) has two intersecting runways which cannot be operated

“900 tenders worth Rs 150 crore?” For ward-level works: BMC

BrihanMumbai municipal corporation is floating nearly 900 tenders worth of Rs 150 crore in the next 10 days, but that is only for ward-level civic works, the BMC clarified on Monday, reacting to reports in a section of media.    “Since there are 25 wards in BMC, it involves m

Elections 2024: Banks, post offices to chip in for voter education

In a first-of-its-kind initiative, Election Commission of India (ECI) on Monday signed a memorandum of understanding (MoU) with two prominent organisations, the Indian Banks’ Association (IBA) and the Department of Posts (DoP), to amplify its voter outreach and awareness efforts ahead of the forthcom

Charming tales of the Snakeman’s early years

Snakes, Drugs and Rock ’N’ Roll: My Early Years By Romulus Whitaker with Janaki Lenin HarperCollins, 400 pages, Rs 699

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter