IOCL conclave to highlight investment opportunities

The conclave titled ‘Purvodaya – The Dawn of New Investment Opportunities in Eastern India’ will be addressed, among others, by Indian minster for chemicals and fertilisers Ananth Kumar and the minister for petroleum and natural gas Dharmendra Pradhan.

It will provide a platform for investors to interact with business leaders of the petrochemical industry, government functionaries and financial institutions.

At a press conference ahead of the conclave, it was revealed that a new 700 kilo tons polypropylene unit at Paradip is likely to be commissioned by June 2018. The new unit, currently under construction, is being built at an estimated cost of Rs 3,500 crore.

Over 70 per cent of construction work on the polypropylene unit has been completed, said GS Singh, executive director, Paradip Refinery, at the press meet.

“Plans are on the anvil to set up a textile park at Paradip,” Singh said while replying to a question. (RKS)

Fibre2Fashion News Desk – India