Three momentous MoUs signed between India’s Energy Entities and Odisha Govt
Maharatna OMC Indian Oil Corporation Ltd. & Govt of Odisha signed an MoU for setting up a state-of-the-art Petrochemical Complex at Paradip. With an investment of Rs 61,077 crore, this will be IndianOil’s largest-ever investment at a single location.
India’s robust energy entities are contributing significantly towards our unprecedented efforts for achieving energy security and green energy transition under the leadership of Prime Minister Sh Narendra Modi. In a landmark moment aligned with PM Modi's vision of Purvodaya and Atmanirbhar Bharat the three momentous MoUs have been signed between India’s energy entities and the government of Odisha.
Maharatna OMC Indian Oil Corporation Ltd. & Govt of Odisha signed an MoU for setting up a state-of-the-art Petrochemical Complex at Paradip. With an investment of Rs 61,077 crore, this will be IndianOil’s largest-ever investment at a single location.
This state-of-the-art Petrochemicals hub will catalyse the development of Paradip Petroleum, Chemicals & Petrochemicals Investment Region (PCPIR) and will boost industrial growth, and create direct & indirect employment opportunities in the region.
Another MoU was signed by Petronet LNG Limited and Odisha Govt for establishment of a Land-based LNG Terminal of 50,000 MT Capacity at Gopalpur Port in Ganjam District.
Indian Strategic Petroleum Reserves Limited (ISPRL) signed an MoU for establishment of 4.0 MMT capacity of crude oil storage facilities in Jajpur district.
These projects will prove to be game changers for import substitution, reducing dependency on imports while strengthening India's energy & petrochemicals infrastructure.
On the occasion Minister Hardeep Singh Puri said, "Very happy to join my colleagues in the Council of Ministers Sh Dharmendra Pradhan & Sh Jual Oram, CM Odisha Sh Mohan Charan Majhi, Odisha Minister Sh Sampad Swain along with senior officials of Ministry of Petroleum and Natural Gas, Government of India & Govt of Odisha, Chairman IOCL Sdr AS Sahney Ji, captains of the industry and others at Odisha Investors’ Meet today.
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