The Board of Indian Oil Corp has approved setting up of the refinery-cum-petrochemical complex at Paradip in Orissa, comprising of a 15 million tpa refinery, and facilities for production of front-end petrochemicals, including paraxylene, polypropylene and styrene, together with a product pipeline from the refinery to Ranchi was cleared by the IOC Board recently. The IOC Board has sanctioned over Rs 1,100 crore for the initial activities for the project, including technology selection, basic engineering design, site development activities, etc.
The site for the project, consisting of over 3,000 acres of land, was acquired by IOC a few years back and has been fully developed developed by dredging and filling along with construction of approach roads, bridges, water & power supply, boundary wall, etc. The contracts for the remaining infrastructure facilities are being awarded currently to make the site ready for starting construction of the mega refinery and petrochemical project within the next one year.
03-Apr-06 
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