Indian Oil Corporation (IOC) is to place before its board, a detailed feasibility report for setting up a complex at Paradip in Orissa. The project is a Rs 25,500-crore modern 15 million ton refinery-cum-petrochemicals complex and will be the first coast-based refinery of IOC. IOC could consider an equity partner in the Paradip project in future as well as raise equity finance from the market.
Apart from refined products, the project will include production facilities for parazylene, polypropylene, styrene and other petrochemical products.
23-Mar-06 
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