To highlight the emerging investment opportunities in the petrochemicals sector in eastern India, Indian Oil Corporation Limited (IOCL) is going to organise a conclave in Bhubaneswar on November 16. The conclave also aims to catalyse investment in downstream textile parks and textile parks proposed to be developed in the eastern part of the country.
The conclave titled ‘Purvodaya – The Dawn of New Investment Opportunities in Eastern India’ will be addressed, among others, by Indian minster for chemicals and fertilisers Ananth Kumar and the minister for petroleum and natural gas Dharmendra Pradhan.
It will provide a platform for investors to interact with business leaders of the petrochemicalindustry, government functionaries and financial institutions.
At a press conference ahead of the conclave, it was revealed that a new 700 kilo tons polypropylene unit at Paradip is likely to be commissioned by June 2018. The new unit, currently under construction, is being built at an estimated cost of Rs 3,500 crore.
Over 70 per cent of construction work on the polypropylene unit has been completed, said GS Singh, executive director, Paradip Refinery, at the press meet.
“Plans are on the anvil to set up a textile park at Paradip,” Singh said while replying to a question. (RKS)
Source Fibre2Fashion News Desk – India