New Delhi: Taiwan’s CPC Corporation proposed a $6.6-billion investment for a greenfield cracker and downstream project in Paradip.
A Taiwanese delegation led by Shun-Chin Lee, President of CPC Corporation, met Minister for Petroleum & Natural Gas Dharmendra Pradhan here on Tuesday for discussions on the proposed investment in petrochemical projects. Indian Oil Corporation’s 15-million-tonne per annum Paradip Refinery emerged as a suitable location for the investment of $6.6 billion.
Met with a delegation led by President of Taiwan's state-owned petrochemical company, CPC Corporation. They propose to invest $ 6.6 billion in petrochemical projects in Paradip using feedstock from IOC. pic.twitter.com/NviUHGGlM2
— Dharmendra Pradhan (@dpradhanbjp) July 31, 2018
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.
The delegation will visit Paradip Refinery and Paradip Port for discussions with IndianOil and State government officials, an official release said.