InvestorQ : Why is IOCL investing close to Rs.14,000 crore in its Odisha plant?
Khushi Patel made post

Why is IOCL investing close to Rs.14,000 crore in its Odisha plant?

Answer
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Anjana Aiyar answered.
2 months ago


You are right that IOC will invest Rs.13,805 crore to set up a plant to manufacture inputs for the textile sector at Paradip in the state of Odisha. The project is expected to be completed by 2024 and will be a case of forward integration for IOC. Its paraxylene and purified terephthalic acid plant will be integrated with the IOCL's refinery in Jagatsinghpur district.

The PX and PTA complex will be set up at an estimated investment of Rs.13,805 crore and is expected to generate 5 million man-days employment over the 3-year construction period. The petchem complex will have PX production capacity of 800,000 tpa, and will be the feedstock for PTA. The PTA capacity, an input for polyester, will be 1.2 million tpa.

Please note that tpa refers to tonnes per annum.