Taiwanese company $6.6 billion petrochemical investment in Odisha



Taiwan's state-owned CPC Corp has proposed to invest USD 6.6 billion in petrochemical projects in Paradip, Odisha using feed stock from IOC, Oil Minister Dharmendra Pradhan said today. A Taiwanese delegation today discussed investment in the petrochemical cracker and downstream units.

"Met with a delegation led by President of Taiwan's state-owned petrochemical company, CPC Corporation. They propose to invest $ 6.6 billion in petrochemical projects in Paradip using feedstock from IOC," Pradhan tweeted.He did not elaborate.

The delegation led by Shun-Chin Lee, President of CPC Corporation "had detailed discussions with the Minister and senior officials of the Ministry and the oil industry on the proposed investment and identified the East Coast of India, and Odisha in particular, for the location of the cracker and downstream units," and Indian Oil Corp (IOC) statement said.

During the discussions, IOC's 15-million tonnes per annum Paradip Refinery has emerged as a suitable location for investment in a greenfield cracker and downstream units at an estimated investment of USD 6.6 billion, it said.


Taiwanese company $6.6 billion petrochemical investment in Odisha

Source: economictimes
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