Projects worth over Rs 11,000 crore to be launched in Paradip
A slew of mega projects of Indian Oil (IOCL) and Paradip Port Trust (PPT) worth over Rs 11,000 crore will be unveiled on Wednesday at Paradip in Odisha, officials said on Monday.
The projects are slated to be launched in the presence of Union Road Transport & Highways and Shipping Minister, Nitin Gadkari, Union Tribal Affairs Minister Jual Oram and Petroleum Minister Dharmendra Pradhan.
Details of these projects were presented at a joint press meet here by by PPT chairman Rinkesh Roy, executive director, IOCL, Paradip Refinery, TDVS Gopalkrishna and ED, IOCL, Pritish Bharat.
IOCL’s state-of-the-art 15-MMTPA refinery will take a leap forward with the inauguration of a Polypropylene (PP) plant built at an investment of Rs 3,150 crore, they said.
The 680-KTA Polypropylene Plant at Paradip Refinery will increase Indian Oil’s petrochemicals capacity to 3.15 MMTPA, with many other projects to follow. It will also considerably reduce import of polypropylene grades, thereby saving foreign exchange for the exchequer, they said.
The PP Plant will act as the mother unit in nurturing downstream plastics processing industry in the region. PP-based downstream industries include Injection Moulding Products, BOPP Film, TQPP Film, Raffia, Fibre & Filament and Thermoforming.
This apart, foundation stone is slated to be laid for a 357-KTA Monoethylene Glycol (MEG) Plant at Paradip Refinery being set up at an estimated cost of Rs 5,654 crore. Ethylene Glycol is extensively used in the manufacture of items like polyester fibre, bottle & film grade chips, solvents, coolant, textiles, packaging, PET film, sheet and molded containers for food packaging, which have a sustained industrial demand.
The project is seen as a key driver for the growing textiles industry in the region and will cater to the rising demand for polyester fibre. With a textiles park proposed at Bhadrak, there will be huge opportunity for supplying raw material to downstream textile units, the officials said.
An estimated Rs 2,000 crore is likely to be invested in downstream units, generating large scale employment.
Work will also commence on IOCL’s LPG Import Terminal. To augment LPG import infrastructure at Paradip, IOCL will set up new 0.6 MMTPA capacity LPG Import Terminal at an estimated cost of Rs 690 crore.
The terminal is imperative for enhanced penetration of cooking gas in eastern region. With increased availability of LPG at Paradip through imports, LPG can then be moved through the Paradip-Haldia-Durgapur-Barauni-Patna-Muzaffarpur pipeline to LPG bottling plants in Odisha, West Bengal, Bihar, Chhatisgarh and the Northeast.
Regarding projects in Paradip port, the officials said a Multipurpose Berth developed for handling clean cargo, including containers, and for diversifying its cargo profile will be launched. The capacity of the terminal is 5 MMTPA and the estimated cost of the project is Rs 430.78 crore.
A dust suppression system completed at a cost of Rs 17.50 crore will also be launched in the mechanised coal handling plant.
Foundation stones will be laid for several projects, including mechanisation of berths to enhance their capacity to 30 MMTPA, enabling cargo handling of thermal coal exports in an eco-friendly manner through closed conveyor system, at a cost of Rs 1,437.76 crore.
Similarly, a new coal berth will be developed for handling of coal imports at Paradip Port on BOT basis at an estimated cost of the project is Rs 655.56 crore.
A Rs 66.4 crore project will also be taken up for transfer of thermal coal received through BOXN wagons from Iron Ore Handling Plant (IOHP) to Mechanised Coal Handling Plant (MCHP) stockyard.
Among other projects at the port are installation of Container Scanner with a project cost of Rs 40 crore and a second exit from PPT including flyover to reduce traffic inside city area and provide improved connectivity at a cost of Rs 94 crore.
A Multi Modal Logistics Park being developed an estimated cost of Rs 200 crore over an area of 100 acres will also be launched in Paradip.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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