Indian Oil Corporation Limited sign MoU with government of Odisha for Paradip petrochemical complex

Indian Oil Corporation Limited (IOCL) has signed an MoU with the Odisha government for the Paradip petrochemical complex. IOCL is planning to set up a petrochemical complex project at Paradip in Odisha, entailing an investment of Rs 610.77 billion. The complex will feature 1.5 million tonne per annum (mtpa) dual-feed cracker and associated downstream units for the production of phenol, polypropylene, isopropyl alcohol, high-density polyethylene, linear low-density polyethylene, polyvinyl chloride, phenol and butadiene, among other petrochemicals. The completion period for the project is four to five years.