Home / Knowledge / News / Textiles / IOCL to invest Rs. 31.5bn for polypropylene unit in PCPIR
IOCL to invest Rs. 31.5bn for polypropylene unit in PCPIR
12
Mar '14
The Indian Oil Corporation Limited (IOCL), India’s largest commercial enterprise, would be investing about Rs. 31.5 billion for building a new polypropylene unit in the proposed Petroleum, Chemicals and Petrochemical Investment Region (PCPIR) at Paradeep, a major port on the eastern coast of India, reports Business Standard.
 
Talking to newsmen on the sidelines of a seminar on PCPIR in Bhubaneshwar, Sidhartha Mitra, Executive Director (Petrochemicals), IOCL, said the company is likely to get its Board’s approval for the polypropylene unit either this month or the next, and the plant is likely to be commissioned by 2017.
 
The new unit would have a capacity to produce 0.7 million tons of polypropylene per annum, states the report.
 
The seminar on PCPIR-Paradeep was organized by the Bhubaneswar Regional Centre of the Indian Institute of Chemical Engineers, in association with Indian Chemical Council, Mumbai.
 
The PCPIR at Paradeep, proposed by Government of Odisha and approved by the Cabinet Committee on Economic Affairs (CCEA), covers an area of 284.15 sq km with a processing area of 123.014 sq km in Jagatsinghpur and Kendrapara districts.
 
IOCL, which is setting up a 15 million tons per annum refinery at Paradeep, has been identified as the Anchor Tenant for the PCPIR.
 
The PCPIR hub at Paradeep is expected to attract investment to the tune of Rs. 2740 billion, of which the petroleum and petrochemical projects would account for Rs. 2300 billion. The mega petrochemical complex is likely to generate about 227,000 new employment opportunities.
 

Fibre2fashion News Desk - India


Must ReadView All

US announces final CVD on fine denier PSF from China, India

Textiles | On 19th Jan 2018

US announces final CVD on fine denier PSF from China, India

The US secretary of commerce Wilbur Ross recently announced the...

EU consumers to gain from cheaper, safer, better e-payments

Apparel/Garments | On 19th Jan 2018

EU consumers to gain from cheaper, safer, better e-payments

European consumers can now reap the full benefits of paying online...

Courtesy: Epson

Textiles | On 19th Jan 2018

Epson's new SC F2100 enhances DTG printing

Epson, a leader in inkjet printers and digital textile printing...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search