Taiwan Company Proposes $6.6 Billion Petrochemical Project in Odisha

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.

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.

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