Page 142 - CW E-Magazine (22-4-2025)

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INVESTMENT COMMITMENT

IOC inks MoU with Odisha govt. for Rs. 61,000-crore

petchem project

Indian Oil Corporation (IOC) has market size of the Indian chemicals nal with a capacity of 4-million tons
signed a Memorandum of Understand- and petrochemicals sector is currently per annum (mmtpa) in Phase 1, with
ing with the Odisha government at the Rs. 18 lakh-crore ($220-bn) and is provision for converting to 5-million
State’s investor meet, committing to expected to reach Rs. 85 lakh-crore tonnes per annum land-based terminal.
invest Rs. 61,077-crore in setting up a ($1 trillion) by the year 2040.
mega petrochemical complex at Paradip “We have now got land so we have
in Odisha. “Chemicals and petrochemicals decided to convert it into a land-based
sector has the potential to transform terminal,” informed Petronet’s CEO
IOC’s Rs. 61,077-crore will be the India into a global manufacturing hub. Mr. A. K. Singh.
company’s largest-ever investment at a Odisha’s strategic location further
single location. The fi rm already ope- strengthens its potential as a gateway Petronet already has two LNG
rates a 15 million-tonnes-a-year capacity for exports to Southeast Asia and import facilities at Dahej in Gujarat and
oil refi nery in Paradip. beyond,” he said. Kochi in Kerala. Dahej LNG terminal
currently has a capacity of 17.5-mil-
IOC Chairman Mr. A. S. Sahney said IOC, he said, has so far invested lion tonnes and is under expansion to
the naphtha cracker, which will make nearly Rs. 55,000-crore in the Paradip 22.5-million tonnes. The Kochi LNG
raw material used to make plastics, tech- oil refinery and adjacent chemical terminal has a nameplate capacity of
nical textiles and other such chemicals, factory. The refi nery will provide 5-million tonnes.
will be commissioned by 2029. feedstock for the petrochemical complex.
Adani Total Pvt. Ltd. (ATPL), a
India’s petrochemical demand is “The Paradip petrochemical com- 50:50 joint venture between Adani
likely to rise from 30-35-million tonnes plex will be a game-changer, catalysing Group and TotalEnergies of France,
currently to 80-million tonnes by 2040, industrial growth and self-suffi ciency commissioned the Dhamra LNG ter-
he said, adding that the country needs a in the entire eastern region,” he said. minal in Odisha in 2023. Dhamra was
new cracker every two years. The up- India’s seventh LNG import and re-
coming complex will house a dual-feed Petronet’s LNG import terminal gasifi cation terminal and the fi rst on
cracker and associated downstream units Besides IOC, Petronet LNG Ltd., the eastern seaboard.
for the production of a wide range of India’s biggest liquefi ed natural gas
petrochemicals including phenol, poly- importer, signed a pact to invest Rs. In another development, Indian
propylene (PP), isopropyl alcohol (IPA), 6,500-crore to set up a land-based Strategic Petroleum Reserves Ltd., the
high-density polyethylene (HDPE), 5-million-tonnes-a-year LNG import special purpose vehicle created by the
linear low-density polyethylene (LLDPE) terminal at Gopalpur port in the State. government for setting up strategic oil
and polyvinyl chloride (PVC). reserves, also signed an MoU for set-
Previously, Petronet was looking to ting up a 4-million tonnes underground
Speaking on the occasion, Oil set up a fl oating storage and regasifi - storage facility at Chandikhol in
Minister Hardeep Singh Puri said the cation unit (FSRU) based LNG termi- Odisha at a cost of Rs. 8,743-crore.

PROJECT UPDATE
Deepak Nitrite arm gets Board approval for Rs. 3,500-cr

investment in new phenol-IPA project

Deepak Nitrite Ltd. has informed Tech Ltd. (DCTL) has approved to phenol, 185-kta of acetone and 100-kta
that the Board of Directors of its wholly- undertake the previously announced of isopropyl alcohol (IPA) including
owned subsidiary, Deepak Chem project for manufacturing 300-kta of greenfi eld infrastructure capex for

142 Chemical Weekly April 22, 2025

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