At a meeting of the 20th High-Level Clearance Authority (HLCA), the Odisha state government has approved five projects with a cumulative investment proposal of ?2,04,069 crore. A hydrocarbon processing complex in Subarnarekha by Haldia Petrochemicals Limited (HPL) and a petrochemical complex in Paradip by the Indian Oil Corporation Ltd (IOCL) are part of the 5 projects.
HPL will set up the complex comprising a light crude oil refinery, an aromatics complex and an ethylene cracker complex near the proposed Subarnarekha port in Balasore district with an investment of ?78,225 crore. IOCL will expand its existing refinery unit from 15 mln mtpa to 25 mmtpa and set up a petrochemical complex comprising a dual feed cracker, naptha cracker and petcoke gasification plant at Paradip with a total investment of ?1,00,300 crore.
Another proposal by IOCL to set up a 1.2 mln mtpa capacity PX-PTA (purified terephthalic acid complex) with an investment of ?9136 crore in its existing Paradip refinery, employing around 3200, was also approved at the meeting.