IOCL to invest ₹13,805cr to set up new plant in Odisha
Indian Oil Corporation Ltd (IOCL) will invest ₹13,805 crore to set up a plant in Odisha’s Paradip to manufacture raw materials for the textile sector, an official said on Sunday.
The project is expected to be completed by 2024, he said.
The paraxylene (PX) and purified terephthalic acid (PTA) plant will be integrated with the IOCL’s refinery facility in the port town of Jagatsinghpur district.
“The integrated paraxylene (PX) and purified terephthalic acid (PTA) complex plant in Paradip will be set up at an estimated investment of ₹13,805 crore to facilitate textile sector,” the official said.
