Taiwanese keen to invest in a petrochemicals cracker plant in India -Governance Now

Taiwanese keen to invest in a petrochemicals cracker plant in India

IOCL’s 15-million metric tonnes per annum Paradip refinery emerges as a suitable location for investment in a greenfield cracker and downstream units

GN Bureau | August 6, 2018

#Taiwan #Paradip Refinery #IOCL #PSU

A Taiwanese delegation comprising government officials and senior level officers of CPC Corporation, Taiwan recently met petroleum minister Dharmendra Pradhan to discuss the CPC’s proposed investment in a petrochemicals cracker plant in India.

The delegation had detailed discussions with Pradhan on the proposed investment and identified East Coast of India and Odisha in particular, for the location of the cracker and downstream units.

During the discussions, Indian Oil Corporation’s 15-million metric tonnes per annum Paradip refinery has emerged as a suitable location for investment in a greenfield cracker and downstream units at an estimated investment of $6.6 billion.

The delegation will be visiting Odisha’s Paradip refinery and Paradip port and for discussions with IOCL and state government officials.

The proposed cracker, based on different streams of feedstock, will have several downstream units for production of a diverse spectrum of petrochemical intermediates and end-products.

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