Completion of Construction of oil refinery at Paradip by Indian Oil Corporation Ltd expected by year end

07-Jul-14

The construction of oil refinery at Paradip by Indian Oil Corporation Ltd (IOCL) is expected to get completed by the end of this year. IOCL’s Pradip refinery work has been delayed because of various hurdles including slump in the oil market, land and labour problems, delay in commissioning of the captive power plant and protests over laying of water pipelines from Mahanadi to the plant site. Originally envisaged to be a 6 Mln tpa refinery at an estimated investment of Rs 8,300 crore, the capacity was later raised to 15-mtpa. During the meeting Odisha raised the issue of lack of progress on the Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) planned to be developed around the refinery with IOCL acting as is the anchor tenant.