Odisha has “accorded approval” to an integrated refinery-cum-petrochemical complex of Haldia Petrochemicals Ltd (HPL), three years after the company had publicly announced a similar plan for Bengal.
A committee headed by Odisha chief minister Naveen Patnaik approved the Rs 28,700-crore project ($4.05 billion), which will involve a refinery to produce paraxylene and purified terephthalic acid (PTA), a statement from Industrial Promotion and Investment Corporation of Odisha Limited (Ipicol) said.
The intent of the investment, dubbed as the country’s largest domestic investment proposal by Ipicol, was received during the Make In Odisha conclave held in November 2018. A formal proposal was submitted on March 1, 2019.
