The Odisha government on Tuesday approved Haldia Petrochemicals Ltd’s (HPL) proposal to set up an integrated refinery with an aromatics complex for the production of paraxylene and purified terepthalic acid (PTA) in Balasore district.
The estimated investment on the project, which is set to come up near the Subarnarekha Port, is close to ₹28,700 crore ($4.05 billion), said a press statement issued by the State government.
The investment proposal was accorded approval by the High Level Clearance Authority (HLCA) headed by Chief Minister Naveen Patnaik. As per the proposal submitted by Kolkata-based HPL on March 1, the land requirement for the project is close to 2,000 acres. This will be recommended for allotment post assessment by the Industrial Promotion and Investment Corporation of Odisha Ltd (IPICOL).
