India’s top oil company IOC will invest Rs 61,077 crore in building a petrochemical complex at Paradip in Odisha — its largest-ever investment at a single location — as it doubles down on its transition plan.
In a statement, Indian Oil Corporation (IOC) said its board has given “Stage-1 approval for setting up Paradip petrochemical complex at Paradip, Odisha, at an estimated cost of Rs 61,077 crore.” “This mega project will be the largest-ever investment of IndianOil at a single location,” it said but did not give timelines for completion of the project.
