NEW DELHI: The IndianOil board has cleared the way for building a petrochemical complex at Paradip in Odisha at an estimated cost of Rs 61,077 crore, marking the largest-ever investment by the state-run company at a single location.
The move flows from the post-pandemic thinking among refiners who are focusing on raising the share of high-value intermediaries in their production portfolio as a hedge against disruption in sales of traditional fuels and a decline in their future demand in the emerging low-carbon energy ecosystem.
“The mega project is aligned with prime minister Narendra Modi’s vision of ‘Purvodaya (rising east)
