Bhubaneswar, 27.12.2024: Indian Oil Corporation Ltd. Chairman Shri A.S. Sahney met Chief Minister Shri Mohan Charan Majhi today at Lokseva Bhawan to discuss the progress of ongoing and future projects in Odisha.
It was decided that in January, IOCL and the Odisha Government will sign an MoU for a ₹61,000 crore Naphtha Cracker Project at Paradeep. This project, which has received approval, will be one of the largest in the country. The Odisha Government will hold a share in the project, benefiting from dividends and taxes.
The foundation for a ₹4,352 crore Yarn Project in Bhadrak will also be laid in January. This project is expected to bring large garment manufacturing units to the area, creating many job opportunities for local youth.
Additionally, the Px-PTA (Para-Xylene Purified Terephthalic Acid) project is set to be completed by June 2025. Other projects, like a floating solar plant and an ethanol project, were also discussed.
The meeting was attended by Industries Minister Shri Sampad Chandra Swain, Chief Secretary Shri Manoj Ahuja, Additional Chief Secretary to the CM Shri Nikunja Bihari Dhal, and Industries Principal Secretary Shri Hemant Sharma. IOCL officials Shri Abhijit Chakraborty and Shri Dhananjaya Sahoo accompanied the Chairman.
