The Indian Oil Corporation (IOCL) board on Tuesday accorded stage-I approval for setting up of Paradip Petrochemical Complex at the port city in Jagatsingpur district at a cost of Rs 61,077 crore. This project is the largest ever investment of IOCL at a single location.
This massive project will strengthen India’s focus to harness opportunities in the petrochemical sector. The petrochemical products produced from this project will cater primarily to the domestic demand and will reduce import dependency; thereby contribute to vision of Atmanirbhar Bharat,” said IOCL.
