Dharmendra Pradhan – Union Minister of Petroleum & Natural Gas:
Together with CM of Odisha Shri Naveen Patnaik witnessed the signing of Share-Subscription-cum-Shareholders Agreement and MoU between Indian Oil and IDCO Odisha for developing the state-of-the-art Paradip Plastic Park in Odisha.
Being jointly developed by Indian Oil and IDCO Odisha, the Plastic Park at Paradip will be the first fully-operational plastic park in the country which will further facilitate establishment of downstream industrial and manufacturing clusters in Odisha.
Sprawling over 120 acres, the modern Plastic Park will be a game changer in strengthening the industrial climate, generating employment & self-employment opportunities and establishing Odisha as a behemoth in the areas of plastics, polymers, fibre, yarn and petrochemicals.
Indian Oil is offering a special incentive scheme to encourage local entrepreneurs and also galvanise investment.
I am happy to share that Indian Oil has planned to invest around ₹26,000 crore in the next few years in strengthening the oil & gas infrastructure in Odisha.
Commissioning of the ₹3100 crore Polypropylene Plant at Paradip, Indian Oil’s upcoming Paradip Refinery expansion project, MEG Plant, PX/PTA Plant, textile manufacturing unit at Bhadrak, etc. will establish Odisha as a nerve centre of industrial and economic growth.
Our oil and gas establishments are committed to the development of Odisha and its people.
I request CM Naveen Patnaik for his full cooperation in completing these projects as well as in setting up the Strategic Petroleum Reserves in Chandikhol, Odisha.