OST Business Bureau
New Delhi, Dec 16:
BJD MP from Kendrapara Baijyanta Panda today met Union Petroleum minister Veerappa Moily and discussed with him the commissioning of the Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) in Paradip. The minister informed the MP that the IOCL refinery at Paradip will be commissioned next year.
Indian Oil Corporation Limited (IOCL) is the anchor tenant for the Paradip PCPIR.
As the anchor tenant, IOCL has agreed to develop a poly-propylene unit, an ethylene derivative plant as well as a mixed feed cracker unit at Paradip. The PCPIR is dependent on these plants since the output from these plants will directly feed its downstream units.
The Paradip PCPIR spreads over 284.15 square kilometres and is based in Jagatsinghpur (Kujang and Erasama blocks) and Kendrapara (Marshaghai and Mahakalapada blocks) districts.
The Centre had approved the PCPIR at Paradip in December, 2010.
The memorandum of agreement (MoA) between the state government and the Centre for the PCPIR was signed in November, 2011.