‘Odisha to be hub for petroleum, chemicals’

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‘Odisha to be hub for petroleum, chemicals’

Sunday, 04 December 2022 | PNS | BHUBANESWAR

Efforts are to turn Odisha to a manufacturing hub for petroleum and chemicals sector. Attending the sectoral session on Day 2 of the Make in Odisha Conclave, here, Minister, Industries, MSME and Energy Pratap Keshari Deb said, “We are making sincere efforts in a bid to establish Odisha as the manufacturing hub for petroleum and chemicals sector. We will stick to our commitment to providing all necessary benefits under our industrial policy for this sector.”


Executive Director, Industrial Promotion and Investment Coproration of Odisha Limited (IPICOL) Kalyan Mohanty welcomed over 220 dignitaries and shared the State’s vision and focus.


Principal Secretary, IPICOL Hemant Sharma mentioned that Odisha has immense scope for development of plastics, chemicals and petrochemical downstream.


He further said MSMEs can make a great turnover in the coming five years if they invest small amounts in the chemicals and petrochemical industry in Odisha. Anyone investing in the sector would be given 20% capital investment subsidy which no other State can offer at this moment, he told. He also announced a lucrative offering for the industrialists saying that anyone who puts up a plant in any areas of western Odisha can get 100% reimbursement in SGST till such time when they are able to clear it. Initially, the claim period was within 5 to 7 years but now the period is extended till 10 years to 15 years, he said

AS Sahney, Executive Director, Petrochemicals, Indian Oil Corporatin Ltd, an anchor tenant in the Petroleum Chemicals and Petrochemicals Region (PCPIR) hub, said by 2025, the Indian Oil is planning to commission a textile park in Bhadrak.


Hiranand Savlani, CFO, Astral Pipes along with Minister, Industries, MSME and Energy Deb virtually inaugurated a manufacturing facility of Astral Pipes Ltd in Ramdaspur, Cuttack.


Narayanan Suresh Krishnan, MD and CEO of Paradeep Phosphates Ltd, KJ Patel, Senior Executive Director, IFFCO, Sisir Jalan, president, India Plastic Federation, Mayur D Shah, president, AIPMA and SK Nayak, Vice Chancellor, Ravenshaw University among others spoke.


Manoj Mehta, Director and Head – Chemicals, Petrochemicals, FICCI gave the vote of thanks.

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